Changing job - still get mortgage?

Donald879

Hi
Thinking of selling and buying bigger place but was wondering if you need to show so many wage slips from your job. My husband is changing employers in a month - would this matter?
Some hazy memory from when I bought was I needed to show 3 months slips and my contract.....would it matter if from different ones?
Anyone have any advice/knowledge?
Much appreciated.
monkey

opinions4u

Donald879 wrote: »

Thinking of selling and buying bigger place but was wondering if you need to show so many wage slips from your job.

Usually.

My husband is changing employers in a month - would this matter?

Yes. 3 years in a job credit scores better than 1 month in a job. Additionally, if there's a probationary period with the new employer a lender may want that to be completed before advancing a mortgage.

Give serious thought to seeing out the probationary period before moving. To help others answer the question more thoroughly, answering the questions below may be useful

How much do you expect to pay for the new property and how much do you expect to borrow? How much do you owe at the moment?

getmore4less

Everyone is basicaly on a years probation because they can be dismised for any reason(a short list of exceptions) upto 1 year

So any probation period proposed by a company carries no extra risk to a lender.

herbiesjp

Some lenders will want probation finished.

Some lenders will not be bothered if the applicant has been in continuous employment for "x" amount of time.

So bottom line is yes you can still get a mortgage assuming you find one of the lenders happy with the scenario and the figures you are looking at.

Be sure to mention any upcoming changes in employment status at the outset.

You can either discuss directly with lenders or get in contact with a good broker.