Just got a job - easy to get mortgage?

balsingh

Hi,

MY cousin has been meaning to get into the property market for the last 2 years but hadn't come across anything appropriate.

Then in November last year, he was made redundant. By pure co-incidence, the perfect house appeared on the market a few weeks later. He has now managed to secure a job which he starts in 2 weeks time.

What are his chances of getting a mortgage accepted? Is it as simple as 'he has a job so he can have a mortgage?' or is it 'he has to have been working where he is for a certain period of time before he can get one?'

He is requesting a mortgage of just 3.75x salary. He put all the data into the Charcol website and it came up with several mortgages that he could choose from. He is just worried that he now might get rejected.

Heth_2

We tried to buy a house last summer, (it fell through for other reasons) and got an agreement in principle from abbey even though my husband had not yet started his job. He had a job contract which stated his salary so they went on that, rather than looking at bank statements. One thing to think about is that lots of places won't sell you unemployment insurance til you have worked for 3 or 6 months.