Mortgage advice

sarahball

I am new to the forum and wondered whether any experts could advise me please?

I would like to get a mortgage and I know they are going to assess me regarding employment. I have been in my current employment for the past 3 years and I have a new job lined up in a different city which is very exciting. I have enough deposit for a 70% LTV and I want to approach a bank to get a mortgage. Can I go there and hopefully have a mortgage approved, but then go and make an offer on a flat in another city? What about if I give them a letter from my new job stating I will be employed and my salary etc and provide evidence there will be no gaps in employment? My reason is that I don't want to move to another city, go through lots of hassle finding a place to rent and then having to move again to somewhere I will buy. Hope this makes sense! Thanks

dunstonh

Can I go there and hopefully have a mortgage approved, but then go and make an offer on a flat in another city?

You can only apply for a mortgage if you have already found a property. You can get an agreement in principle but the minute you sya new job, then you are going to find many lenders so no unless there is no probationary period. That would need confirmation from the new employer.

sarahball

Ah yes, thanks, I understand. There is no probationary period and I could provide the contract stating this. So first I need to find a property and then I go and get the mortgage. I was thinking it was the other way round!

herbiesjp

It all looks fine based on what you are saying

It may well be worth while getting an agreement in principle with a lender first, as in the current climate lenders are tending to do strange things things i.e refuse what look like perfectly good clients (some recent posts on here to confirm)

If you are confident enough going it alone, then double check all criteria first with the lender before they carry out any credit checks.

Otherwise go via a whole of market broker who can source all deals, even direct to lender deals - there may be a small fee, but it could save you more than that fee by giving you a recommendation from a true whole of market search