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Applying for a mortgage, but got a new job!
GBNI
Posts: 576 Forumite
Hello, first time poster so I hope this is in the correct place!
My OH and I are going to apply for a mortgage on a new build on Saturday.
I am a civil servant and have been for 9 years. My OH is an electrician and for the past few years has worked with the same company.
However, he has just been offered a new job last week and is due to start on the 2nd April. Will the bank look on this as an issue as he will be in a probationary period in work? I was worried enough about being declined and now this! The money he will be on will be a lot better but I don't think that will make a difference.
Am I right to be worried?
Thank you in advance.
My OH and I are going to apply for a mortgage on a new build on Saturday.
I am a civil servant and have been for 9 years. My OH is an electrician and for the past few years has worked with the same company.
However, he has just been offered a new job last week and is due to start on the 2nd April. Will the bank look on this as an issue as he will be in a probationary period in work? I was worried enough about being declined and now this! The money he will be on will be a lot better but I don't think that will make a difference.
Am I right to be worried?
Thank you in advance.
0
Comments
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It will definitely affect the lender's credit score, if it works that way, and some lenders will defer an application if the applicant is in a probationary period.
It depends on who you are using.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
We're going with Danske Bank, to be honest my OH as been sorting it all as I don't really have a clue when it comes to finances. We have a 5% deposit so not in the strongest position I don't think.0
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95% mortgage and a new job he hasn't started yet?
I'd ask the lender before you go. It may save you wasting your time. The two lenders I can think of which will accept someone in probationary period, or will accept a written offer with a start date, don't offer 95%.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
The job offer came as quite a shock to be honest! Too good an opportunity to turn down though.
I'll get him to contact the bank, don't want to waste their time. Although, it will give us the time to save more of a deposit. Every cloud and all that!0
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