FTB - New Job

loopyanna

Hi everyone,

Just looking for some advice please.

Myself and my partner are looking to buy our first property. He was made redundant (used to work in the car industry) and did some temp (6 month contracts) work. He has just (currently in his 3rd week) got a permanent job with the NHS.

We wanted to know what the deal was with mortgages so i went off to see an advisor at Natwest as we both bank there and i have one of their "private" accounts.

Apparently Natwest normally ask for 6 months of wageslips but said that they would put forward our application anyway - even though my partner has only been employed for 3 weeks! They said that as i am a proffessional (solicitor) with a good wage and one of their private accounts they would consider me to be very low risk and due to my wage, they would only be needing £8k of my partners salary... Ultimately it's going to go to an underwriter to make the decision.

Anyway, we now have a mortgage in principle and now have to go off and get an offer accepted before they can start the application process.

So, my question is... first off - does anyone know if this seems normal or something that happens alot? Secondly if the application comes back rejected will it affect our credit score? Lastly if natwest do say no, does anyone think that we would be successful elsewhere? If so an suggestions?

Thanks for reading the long post and for any advice that you may have

Anna.

BULLNOTBEAR

It sounds about right. Sometimes going direct to your bank can be the best bet for newly employed as they have your and his banking history. It sounds quite feasible what they have said.

If it is rejected then yes it would affect your ability to get another mortgage but wait and see what Natwest come back with before crossing the next bridge. The mortgage underwriters would assess your affordability and it depends on the amount you are borrowing and how much deposit you have and also both your credit history- always best to have some credit so they have proof of you being able to repay debt.

It sounds like you have a secure job and have been with your employer for a while so your partner's salary is not as important.

Let us know what they come back with.