Getting a mortgage with a new job?

matthewseymour

I've been self employed for nine months (so I don't have two year's profits to show) and I've just been offered a full time job starting from next month (earning more money than I was when self-employed) . We would like to move to the area and buy in the area. Our existing mortgage provider will not allow us to take our mortgage with us because they would treat the mortgage porting like a new application and would need me to be in stable employment for 6 months before they would consider that income for the mortgage.

Does anyone know if there are mortgage providers who don't require the 6 months of stable employment or is that going to be standard practice across the board? We're trying to avoid renting for 6 months before we can apply for the mortgage in the new area.

Thanks.

skaps

When we bought in oct 2008 my OH had only been working for a month and i had changed jobs too. Our companies had to write to the mortgage company to prove that we had a permanent contract.

RX-78

I think it can be done but you'd have to pull a few strings.

I'm in a similar situation in that I've only been self employed for a few months, albeit in the same profession I've been doing for almost 10 years. I'm starting a new job (joining an established business partnership, again same profession and self employed) in the summer so my situation will change slightly again. I am in a profession where this is not unusal, so I trotted off to the bank and explained my situation to several managers.

I thought they'll reject it but luckily (touch wood!) the under writers approved it. I suppose if you can find banks/managers who understands your profession and if you can gather all evidence (I had letters from everyone I can get my hands on, even the accountants from my upcoming partnership as evidence of my future earning) its not impossible.

Good Luck!

Hauzen

I had similar concerns as I recently started a new job in January, but I had a Halifax mortgage approved two weeks ago. They requested confirmation of employment details from my employer and that was that. There is no probationary period with my job though and I am classed as 'permanent' so that might make a difference - some lenders won't lend until any probationary period has finished.