Mortgage whilst starting new job

kalair

Hi,

I was wondering if anyone could offer me some advice, I'm a first time buyer and have just had an offer accepted on a house. I have an agreement in principle from HSBC, and have arange for a meeting to proceed with the mortgage application.
However, in the list of things they have said I'll need to bring with me, I need either 3 months payslips of if I am in a new job, I need a letter from my employer stating my salary and the fact that I am NOT on a probationary period. Trouble is I AM on probationary period. I mentioned this to the advisor when I got the agreement in principle, and they still gave me that.
There cant be many large companies that take people on without a probationary period, its just standard practice. I've been told at work that they have only ever once not taken someone on permanently after probation. Its just a formallity.

But can anyone out there advise, is this likely to stop me getting a mortgage?
does anyone know of any lenders that will lend in my circumstance?

My appointment with HSBC is not until 17th, and I'm just trying to stop myself stressing out until then, so if anyone has any advice it would be greatly appreciated.

many thanks in advance _pale_

kalair

Gutted! no that is not what I wanted to hear. Managed to get a great deal on the house...

Just seems so silly, I'm doing a job that I've essentially been doing for years, I just happen to have moved to a new company (for better money I might add) to do the same job.

And with most peoples notice period being no more than three months anyway, what does it matter if I'm on probation? anyone could get laid off in 3 months or less whether they are on probation or not!

Sorry, rant over. Just gonna be gutted if getting a better job means I cant buy a house!!

kalair

Thanks, I really do apreciate the advice, despite it not being what I wanted to hear, didn't mean to sound ungrateful.
Fingers crossed anyway, HSBC might smile on me as I've been banking with them my whole adult life and I have a perfect credit score.
If not, will just have to be patient.

Thanks again.

shop-to-drop

Could you speak to your employer and ask them to reduce your probation period to enable you to buy the house? Is it closer to work perhaps? Would be good if you could offer an advantage to your employer for doing so then they might be swayed if they are keen to keep you on.

dwsjarcmcd

If I'm reading it right, you've a 3 month probationary period. As your already there, you have less than 3 months to go, so all that will happen is that you cannot complete your loan with HSBC until your confirmed as permanent. Just don't exchange until your confirmed permanent and explain what's going on to the seller. HSBC can and will get on processing your loan but won't release the funds until they know what your confirmed permanent. Look at it as a delay.

There is no point in speaking to anyone else because I am sure all lenders will be the same on this particular point.

kalair

thanks again for the advice, I should have stated, I'm on a 6 month probationary period, which is a bit too long to stall for really.
I'm just gonna have to wait and see I think. but its gonna feel like a long time until thursday!