Length of employment when getting a mortgage

bonbons26

Hello everyone,

Was just after a bit of advice, me and my partner are currently saving for a house we should have enough for 10% deposit and moving costs by December.

My question is, as I am currently unhappy in my job, would it be risky moving jobs now? I believe you need to have worked 3 months before you would get accepted for a mortgage, I have been in my current job 4 years and it is a stable job, so I am guessing this would make me more favourable and should therefore stay in this job at least until the house is bought.

Any opinions would be great,

Thanks

josievg

If I was you I would sort the job issue first. Being unhappy in your job is no fun so if you can find another job you would enjoy more I would go for it.

Then, when you've settled into the new job, you can revisit househunting.

This would also give you chance to save a little more - there are always those unexpected additional expenses on top of your 10% deposit and predicted moving costs.

The whole housebuying process will take a while so you could be stuck in a job you don't like for many months to come.

House buying and moving can be quite stressful too so having to deal with that whilst being unhappy at work isn't the best situation to be in.

Luckily house prices aren't exactly shooting up at the moment so there's no rush. I think you should make things as easy on yourself as you can.

koexelek

Lenders prefer you to have been in the job at least three months, but they will consider lending from day one if it a permanent job with no probation period though.
It will help if you are staying in the same line of business though