New Employment and Mortgage

lee634

Good Morning Money Savers

I'm due to retire from the forces next year after 22 years of service, I will get a Pension and a Tax free lump sum. Clearly I will be looking into going into full time employment. However at this moment I do not own my own house.

what are the Mortgage companies policies with new employment etc.
I will use my lump sum as a deposit and also my pension should cover most of the mortgage. so will i be able to get one as I will only have been in a new job for a couple of months.

dwsjarcmcd

Depends on the lender, some will want 3 months others 6 months by the time the property completes.

m00m00

it will also depend on whether you are on a 'probation' period with your new employer.

the pension will help too, but you really should speak to an independent or whole of market broker rather than randomly approaching high street lenders, as they will be able to target an application specific to your situation.

lee634

m00m00 wrote: »

it will also depend on whether you are on a 'probation' period with your new employer.

the pension will help too, but you really should speak to an independent or whole of market broker rather than randomly approaching high street lenders, as they will be able to target an application specific to your situation.

Thanks, I think i should make a few calls, not too sure what we are going to do may have to rent for a period, need to find a job first I suppose