Changing jobs - affect on mortgage application?

pickled_cabbage

We are currently looking to move house and are actively hunting for the right house to buy (have been looking for a while now!).

When we moved into our current home our lender (Santander) required that I'd been in my job for more than 3 months and that I had passed my probation period.

Why I'm posting is because I have been offered a new job in a different company - and I'm really worried about taking it in case it prevents us from moving home.

Does anyone know what the rules might be on this?

If I accept the job I have a 3 month notice period here, so in total it means I can't get a mortgage for 6 months from today's date - is that correct?

Is there anything I can do to workaround this?

dimbo61

Selling and buying a house takes time!
Have you sold your current house ? Many viewings ?
Your deposit,LTV, credit history, income, how much you want to borrow are all things to comsider.
Does the new job pay more ? Is it a big well known company that is doing well in the current climate ?
It might well take you 6/9 months to find the perfect house and move with all the legals, searches, etc or even longer so consider the job first and foremost before the effect it might have on a mortgage application

kingstreet

The likes of Halifax and Nationwide will lend to you even during your probationary period.

pickled_cabbage

dimbo61 wrote: »

Selling and buying a house takes time!
Have you sold your current house ? Many viewings ?
Your deposit,LTV, credit history, income, how much you want to borrow are all things to comsider.
Does the new job pay more ? Is it a big well known company that is doing well in the current climate ?
It might well take you 6/9 months to find the perfect house and move with all the legals, searches, etc or even longer so consider the job first and foremost before the effect it might have on a mortgage application

Have sold our current house - so we're under pressure to find somewhere. There are a couple of places we like and that we want to put offers in on (we're considering).

Ignoring our buyer's pressure - I would hope to have found somewhere ourselves within 6 months - so I don't know what to do.

pickled_cabbage

kingstreet wrote: »

The likes of Halifax and Nationwide will lend to you even during your probationary period.

Sorry - I should also say that we need to stay with our current lender as we have a very very good deal that we can port. We also would be subject to early repayment charges if we change.

kingstreet

With this additional information, there's nothing I can advise. You are stuck with whatever your existing lender wants to do. If you apply without telling them, you still have a duty to disclose any information which may affect their decision to lend to you, right up to completion.

If you fail to do so and your application is subject to verification in an audit, you may find your mortgage offer withdrawn.

It would appear you are unable to give notice until the day after your completion date.