Mortgage options pre-job

Arb77

Hi all

I start a job in London in September (but am a student until then), but am keen to buy a flat before I start. I have around a 20% deposit from the sale of a previous house.

I gather that some lenders will accept evidence of a job as proof of income before it starts - can anyone tell me who, if anybody, will accept an application from me?

Thanks!

Gentoo365

I doubt anyone would. It would probably fall under the heading of irresponsible lending.

It is also risky for you. You may not like the job. They may let you go before you are entitled to any sort of redundancy / notice. You may decide that there is a better job outside of London. You may find that you don't know which area of London is best.

Also if you are a graduate your salary may increase quite a bit in the next few years, increasing your budget.

I expect a lender will want you to have at least passed your probationary period. Personally I would not want to get into any sort of mortgage until you had been their long enough to have a decent notice period / redundancy rights. Unless you have 3+ months of income as savings to cover.