First time buyer needing help!

Doddsy13

I have decided change my career and have got a new job in the south of England. I currently live in Newcastle and have worked in my current job for 5 years.

I have got a new job in Portsmouth and Im looking to move down within the next few months. Whilst living in Newcastle I have managed to save a deposit to buy a house as I currently rent.

Will I be able to move to Portsmouth and start a new job and buy a house as a first time buyer without being in my new job for 6 months

I have thought about renting but prices are really expensive for even just a house share.

Do any moneysavers know if I would be able to do this? I have read that I may be able to do this as some brokers may take into account that I have worked in my current job for 5 years but I'm not sure.

Jimbo1976

Yes you will be able to buy a home without being in a job for 6 months. Some lenders will want you to have finished your probabationary period first, others will be more relaxed. Speak to a mortgage broker, they will be able to help you

IF you intend to rent for a short period, it is worth ensuring that your bank statements, driving licence etc are updated to show your new address and if possible get yourself on the electoral register as quickly as you can.

EMac_2

It kinda depends on how drastic a career change it is. A new job will need 6 months history but if its a similar job this will be waived. I'd see a broker and get it sorted in Newcastle before moving down. Best of luck

kingstreet

There are lenders willing to accept confirmation of employment from an offer letter and will consider an application before you actually start. Probationary periods are accepted by such lenders too.

It would be a good idea to source a mortgage before you are leaving the NE so you know what's possible before you go...