Decision new job or not

BUDFORCE

BUDFORCE

BUDFORCE

Soldato
Joined
3 May 2012
Posts
9,449
Location
Wetherspoons
I appreciate no one can make up my mind for me, but just wondering on opinions, maybe some of you are or were in a similar situation.

I WFH full time, and have done prior to covid, I have been with my employer for 3.5 years I work in mortgages.

My current job is pretty lax, I work from 9-5:30 but realistically Im done more or less by midday, and just skive the rest of the day, Ill play PC games or sunbathe if the weather is nice, ill normally get out for a walk for an hour on my official lunch break also.

Despite how few hours I actually work, I do really well and the company quite like me.

Sounds peachy?

I wont get into to much detail but we do two kinds of mortgages, buy to let, and residential. I was employed when the company only did BTL. I like BTL, its easy.

About August last year they brought in residential, the company do not have a clue what they are doing. I have said very clearly that I do not want to do it, for various reasons and that if they did put me on it, I would leave.

About 2 months ago I got a job offer, a bit more money but not much, and turned it down. I didnt mention anything to my current employer about that. A few weeks later I got put onto residential because the team were struggling, I hated it, and at the time massively regretted not taking that other job. Fortunately, they only put me on that for about 3 weeks, and actually were quite apologetic about it all, now I am back to my easy life.

I took another job interview on Friday just gone, I dont know for sure but reckon they will offer me a job, probably more money, well see. I know someone who works at that company quite well, as she used to work the same place as me, we used to gget on really well, she says she really likes it there.

My current job on BTL is chill, but I feel like where I work is a ticking time bomb, and at some point might get asked to go back onto residential. I also feel like to a degree, they crossed the line in the sand, and if I dont make true to my threat whats stopping them doing it again.

Now I know what you are going to say, slap the job offer at my employer and see what they will do. The problem is, my managers manager is a vindictive little bitch, and once your head is above the parapit would probably make your life hell for lack of loyalty.

So I dunno, sit on the timebomb and ride the easy life whilst I got it and hope for the best.

Slap a job offer at them and demand to never do residential again and hope they leave me alone?

Move to the other employer into the unknown?
 
I'd probably leave if you get offered this job. As you know someone who works there and it sounds decent. You can wait and get lucky, they may not put you on residential but if they do there may be any decent jobs about. Or at least no company's you have insight into.

I'm generally risk adverse, but I've also been guilty of staying in jobs too long and being unhappy. So just my thoughts.

There's obviously the risk of the job unlikely to be as relaxed as your current role.
 
Even if you stay, the other job offers more money, right? How much more? £1k that’s barely noticeable? £6k that makes a decent dent in your finances and means you can start saving or paying off debt? £10k+ that makes a huge difference to your life and you can start to invest for the future? What about other perks? Are you getting extra holidays due to tenure? What’s the commute like? Any option to work from home when wanted? These and other factors such as colleagues and management can majorly influence your decision.
 
Thanks all, it's working from home I'm sure the other job would be very similar.

I fully anticipate if I took the new job I'd have to do a bit more work in the afternoon. They are also roughly 75% resi, 25% BTL and no seperate teams so need to do both.

Money wise I don't know, potentially be 5-7k more, about 20% increase, I wouldn't go for less and I've made that clear to the HR guy before the interview.

I don't need the money badly, that being said cost of living increases is a thing, and we need some home improvements doing, and that would certainly start paying for those.

Having to work a bit more isn't the end of the world, I wouldn't be going into a stress factory though I know that from this other girl, but she says she is left alone all day.

Worthy said:
Is the issue with being put on residential that you have to work and not play PUBG all day, or what? :D
Click to expand...

Yea sort of hahaha.

I've not been playing that as much recently my regular guys have not been around as much recently.

It's not so much the hours I have to work, the work is awful, residential in general is worse because as you can imagine emotions run hotter, and people lie. Generally much less of both with landlords. You are also not looking any personal circumstances in anywhere near as much detail.

Added to that working for a lender that is trying to do all the weird and wonderful stuff, yet don't have a clue, they can't walk let alone run.

The potential new employer are much more well established when it comes to that, so although not ideal it'll be a lot more tolerable.

But, if I could only somehow know or agree I never have to do it at my current employer......

Wish I had a crystal ball.

Probably getting a step ahead, you never know might not even got a job offer, in some ways that would be a good result means I don't have to make any decision.
 
BUDFORCE said:
I wouldn't be going into a stress factory though I know that from this other girl, but she says she is left alone all day.
Click to expand...
Go for it then. It sounds to me like the biggest threat from a new job is the impact on your bonus leisure time but this job is more of a known quantity than a random one.

Ask for the top whack in terms of money that way either you can a big raise or you can stay in your cushy job.
 
kindai said:
Can you stop playing pubg all day then and find me a btl mortgage better than 3.x%for a spv company :D:cry:
Click to expand...

I do all the background checking, underwriting, I am not in sales so cant help. Sorry!

You might find mortgages getting more expensive though, quite sharpish. The price of swap rates, or the cost of the money non-deposit taking banks are charged for their funding, has shot up recently, particularly after the Ukraine thing, and you'll find a lot of BTL lenders are non-deposit taking banks that work that way.

These lenders then also securitise these mortgages, so package them up into limited companies and sell them to investors, apparently the securitisation market has completely frozen.

Infact Molo (a lender) actually stopped lending on BTLs completely this week, pulled all their lending. They had a tranch of funds (say 250million, I dont know the exact figure) and ended up lending it much faster than they had anticipated, they run out of funding and apparently the next tranch they had in place, the cost had risen by 500%. Obviously not profitable so stopped lending.

More will following suit. This may also be a factor in my decision, the place I work now has been lending for maybe 6-7 years, the potential new place since 1995 or something, but anything pre 2008 you know is about as stable as you can possibly get.

Back on topic, not heard anything back yet but they did say it might be a week and a half, so maybe hear back next week.
 
Well, bit shocked, got the email this morning got turned down.

I know I am going to sound like a right arrogant ****, but I was pretty confident I was going to get an offer and it would be down to salary negotiation, I didn't think for a second I wouldn't even get an offer...

I am a little gutted, but more shocked then anything.

At least it takes the decision out of it.

I was speaking to my old boss, and wonders if there is something going on the background maybe, with this other lender pulling out etc, but said it would be worth emailing them to get some more specific feedback (the email was relatively generic) on what went wrong, obviously being very polite and courteous about it.

Just gotta pray I dont get put back to doing residential here anytime soon.
 
Damn, that must have been difficult. As you’ve said it’s likely one of the recruiters or managers had someone lined up and brought them in even though they may not have been the best candidate.
 
I wouldn't worry about it too much, it's not uncommon to think an interview process has gone well and not be offered a job. Sometimes it might even be as simple as there was a better candidate in the process and you just got 'unlucky' i.e. would've been offered the job if they hadn't applied. Although clearly it would be good to get any feedback as to any potential areas for improvement.

In years gone by I was rejected for 3 different jobs paying under £20k. I'm confident I would've been at least decent at all of them. You just have to view it as their loss and move on.

One thing to consider is what your effective pro-rata salary is. It sounds like you are effectively working about 15hrs a week. So keep in mind a new job might need more than 3hrs a day of your time, so you could end up taking a pro-rata pay cut if you're not careful. Depending on how much you need the money, an e.g. £30k job working 15-20hrs a week might be better than a £40k job working 30-40hrs a week.
 
You must log in or register to reply here.
Back
Top Bottom