Mortgaging with a new job

flatbuyers

Hi, I am hoping someone can help! My boyfriend and I are first time buyers and have made an offer on a flat of £250k which has been accepted. We currently earn £59k (him) and £33k (me) and had our mortgage approved in principle. We have both been with our current employers for nearly 3 years and have professional jobs. I have just accepted a new job for £41k and will be moving at the end of July. I had all our payslips ready, but now the mortgage company wants an income reference from our employers. Do I need to give them the new employer's details? Is this likely to be a big problem?

I hope I'm panicking unecessarily, but can someone help?

Thank you!

beecher2

You need to phone them up and explain the situation. If your new job has a probationary period then it may cause a problem, but your salary multiple low which should help. Definitely don't hide the fact that you have a new job though.

herbiesjp

This is a material fact that needs disclosing - apart from the fact that it will come out via the reference.

You can only be upfront and see what the lender then states.

If they do not like the situation, you will be able to find lenders that will be happy.

flatbuyers

Thank you both- I had better ring them then!! I hope it'll all be ok. Our salary multiples are ok, but only have 15% deposit so don't feel like we're in the strongest position. Also am impatient!

Thanks again