Will I Be Accepted For A Mortgage?

Mark_D_4

Hi all need I bit of advice. I've recently changed jobs (1 week ago) and was wondering if a potential lender would provide me with a mortgage. I basically finished with with my old employer last Sunday (worked continuously for them for 5 years) and then started with current employer on Mon as it was a better job, not through redundancy. Problem is I've just fell in love with a property within my price range. I'd be looking to borrow approx 110K and would be able to put 60K down as a deposit, although I'd still have approx 40K tied up in ISA's making tax free intererest. My salary is approx 34K a year. Would a prospective lender give me a mortgage If I applied tomorrow or would I need to have 3 months worth of pay slips from my current employer? Cheers all

herbiesjp

Hi MarkD

Some lenders will want you employed for a minimum timescale such as that, some want longer.

Some lenders will want not necessarily want 3 months pay slips - but they may want to know you are out of any probationary period.

Other lenders will just accpet you as you are.

So it will take a lot of searching and/or phone calls to find the right lender for you.

The quickest way would be to get in contact with a whole of market adviser and let them find a lender that would best suit your personal circumstances and a deal that is what you are looking for

In the current climate lenders are changing criteria/rates all the time and I think this will be your easiest option

As long as you have no bad credit history, and no other debts in the background, you should be able to find a lender to help

Well done on the saving! :T

minimike2

I would try Skipton for this as they do not mind about probabtionary periods, as long as you have continuous employment for 6 months in the same line of work then they are happy.

Tiddler_2

Halifax would also consider it - they will more than likely write to your new employer to ask if there is any probationary period, and if there is they ask that it is something which is applied to all employees and not just you. If it applies to all employees you will be ok.

Hope that makes sense!!

Hness1974

.....Nationwide - my friend was in a similar position recently and their rates are always good!

Angelboots

The best thing for you to do is go to a Mortgage Broker, and let them do the leg work for you. They will know which lenders would be willingly to lend weith your criteria (new job, salary etc).