New Mortgage without 3 months wages...

nuffs3d

Hi, hope someone can help.

We have sold our house (agreed to sell anyway) and have found another house we like and will prob end up putting in an offer. The problem is I have just started a new job and won't have 3 months wage slips until Jan 07 when the chain is supposed to complete.

My understanding is that i'll have to organise my mortgage very soon but i'm unsure as to the implications of not having this proof of income, this makes us higher risk I guess. My previous wage slips are no good either as I was running my own business for 1.5 yrs and we barely paid ourselves min wage. Jobs before this time were well paid though...

Any help appreciated.

Cheers, Nuff.

herbiesjp

nuffs3d wrote:

Hi, hope someone can help.

We have sold our house (agreed to sell anyway) and have found another house we like and will prob end up putting in an offer. The problem is I have just started a new job and won't have 3 months wage slips until Jan 07 when the chain is supposed to complete.

My understanding is that i'll have to organise my mortgage very soon but i'm unsure as to the implications of not having this proof of income, this makes us higher risk I guess. My previous wage slips are no good either as I was running my own business for 1.5 yrs and we barely paid ourselves min wage. Jobs before this time were well paid though...

Any help appreciated.

Cheers, Nuff.

It will depend on your whole scenario, but there are lenders that will be ok with you having just started a new job. Some will mind however if you are in a probationary period, and will not offer a mortgage until you have completed the probationary.

Some lenders will be able to write to your employer to verify income if yo do not have any payslips.

HTH

nuffs3d

Great, sounds like we'll be ok then. thanks for the advice!