Help! New job and need a mortgage

spikedone

Hi all!

Just reserved a one bedroom new build for me and my partner. Details are...

£150k property, got £20k to put down, leaving £130k mortgage which we'd like to pay off over 15 years.

Partners wage £23k
I left my £29k job in December (of 7 years) and start my new job on £28k, next week.

I am concerned that there is a gap of 2 months between jobs, I did this to travel and both our credit is immaculate.

Am going mortgage hunting this week, any suggestions for what to do? Self Cert etc?

Regards

John

TEDDYRUKSPIN

Depends on the bank really. Your better wait for your first salary to go in. Also do you have a probation period? If so, most banks will usually just reject you as your considered a risk. The 2 months will be a small factor but your contract will be the hinderance. Is it a permanent contract? Borrowing the amount is not a massive problem but by putting down 20k will help. If it is in an account now for show, I can really see a problem. Most banks such as HSBC, Lloyds etc will usually approve it in branch if your LTV is below 90%. Others won't.

danjberry

i cant see this being a problem, just make sure you inform the lender/broker before you apply to make sure they accept this. the lender i work out do not see this as a problem. they will simply write off to your new and previous employer for references to see your new salary and make sure you were not sacked form your previous job

JulieHK

You will be fine, a 2 month gap will be no problem with most lenders. I think Alliance and Leicester do not mind re probationary periods if applicable.

herbiesjp

You should be OK with quite a few lenders

Definitely no need for a self cert mortgage.

Let a fee free whole of market adviser source a good deal for you

MortgageMamma

There are plenty of high street lender who will look at this for you, but a lot of whether they accept you or not depends on your credit rating and your employment history from before you went travelling. From your wage it sounds like you have a reasonably responsible and steady job - what do you do?