Obtaining a Mortgage 6 Months Prior To Job Start Date

ncfcstar

Hi guys,

I was just wondering what anyone thought of the possibility of this. I am in full time employment, and my girlfriend has just been offered a teaching job starting in September. Obviously we are delighted that she has been offered a job so early on in the year as it has given us plenty of time to plan what we intend to do for the rest of the year in the build up to her beginning her job.

I have spoken to a whole of market adviser who has done a bit of research for me, but apart from NatWest who require a 20% deposit (something we don't want to stretch to on the house we've seen as it will leave us with £0 savings after stamp duty/solictors fees etc) no one will offer us a mortgage more than 3 months before her start date.

Does anyone have any experience of being offered a mortgage sooner than this? If not then I will just have to settle and wait until June, the problem is we have found a new build we like which will be ready in July and it is unlikely this will still be available in June. I find it a strange system that would let us borrow in 3 months time, but not now even when the job is confirmed, and even though in our ideal situation we wouldn't move until July/August.

Thanks in advance

Simon_gloster

Congrats on some good news for you.

New builds will come with a 20% deposit typically, so bear that in mind.

I your partner working now?

Personally I have aways used the 3 month buffer zone and never gone beyond.

The only way of getting it agreed is for an underwriter to sign it off.

Having said that, the offers and products will have a shelf life, typically 120 days, therefore its likely the rate you opt may not be there com June.

tc9604

Some lenders want both parties in a joint mortgage to have been in any new jobs for a whole salary period before they will consider their income - just something to check at the start of any application.

ncfcstar

Simon_gloster wrote: »

I your partner working now?

Personally I have aways used the 3 month buffer zone and never gone beyond.

She is currently a student, so has no earnings, she left her job last August in order to study for her PGCE.

So it looks like it is impossible then? My adviser has told me we'll definitely (well if we pass the application, and I have no reason to see why we wouldn't) be able to get a mortgage in June, but sadly I very much doubt the home we like will be available then. I just find it strange that circumstance cannot be taken into account, especially when completion wouldn't be until July anyway.