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First Time Buyer with new job
michsmit
Posts: 55 Forumite
I start a new job in September and wanted to get an agreement in principle so I can make an offer on a place near to the new job. I have handed in my notice at my old job and finish at the end of July. Will a mortgage company give me an agreement based on my current salary or is it best to try and get one based on my new salary which is only slightly more?
Thanks!
Thanks!
0
Comments
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It depends on the lender - some will take the figure now
and some will take the figure of the new job.
However which salary figure you will need to use will depend on what loan amounts you are looking for.
What is the purchase price and what is the loan amount needed?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Loan amount needed is £120,000, salary is approx. £25,000. I would like to go for a 5 year fixed rate to allow me to plan ahead and budget.0
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and what is the purchase price?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Sorry about that, purchase price is £220,000.0
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There should be a handful of lenders that could look at this for you - which lender is best will depend on your exact circumstancesI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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