How long do i need to work before i can apply for a mortgage?

compound

Hi All,

I have a query that I would really appreciate if anyone could answer. I was in continuous employment for 3 years up until recently. I have been unemployed for 3/4 months but start work soon on a permanent contract.

My question is what is the minimum amount of time (months) I would need to work in the current job before I can apply for a mortgage?

Many Thanks

ACG

It depends on the lender.

Some lenders dont have a set period - their criteria is just that you are in paid employment. Others have a 3 or 6 month stipulation, others say continuous employment for 12 months to 2 years.

If your looking to apply as soon as you get a job, then you either need to ask the lenders their criteria before making an application - otherwise your just wasting your time and potentially ruining your credit report.

Alternatively you can speak to a mortgage advisor, and ask them to do the research for you.

duckandcover

With mine, I was probably about 2 months in by the time I started applying for mortgages and it didn't seem to cause any problems.