First mortgage and a change of jobs

Bottledgreen

Hello all,

Me and my partner are in the process of moving into our first house. We've found one we like and although we haven't applied yet, all signs point to a yes on a Mortgage In Principle, followed by the agreement.

However, I am changing jobs in slightly less than a month, with a 3 month probationary period to follow. The lenders won't let us borrow while i'm in my probationary. So my question is this:

Do you think that it is possible to get a MIP over the phone today, put an offer in immediately and (if accepted), hurry through a mortgage application whilst i'm in my current job, in the hope it all goes through smoothly before my new job starts.

Will the lenders be able to find out that i'm on a probationary period? I don't intend to lie, as I won't be on a probationary during the application. But given the amount of time these things take to go through, I may well be into the probationary, by the time things go through.

Any advice given will be very much appreciated. I think it's also important to note that we will be borrowing considerably less than our maximum allowed (still over what could be borrowed against my partners solo wage) and no matter what will be able to make the payments even if my new job were going to fall through (not going to happen for several reasons).

Cheers!

jacques_chirac

Withholding knowledge of an imminent change in circumstances is a lie by omission.

ACG

Some lenders write to the employer for an employers reference - unlikely if you can evidence 3 months payslips bank statements but certainly not uncommon... the last thing you would want is for them to say something along the lines of he is due to leave on such and such a date.

It is possible to get an application through in under a month with the righ solicitor and lender - i had one just last week that completed in 20 days - but everyone had to pull together for that.

The alternative would be to find a lender who does not mind how long you have been with your current employer, that way it should stop any issues?

Fitzkepp

ACG wrote: »

Some lenders write to the employer for an employers reference - unlikely if you can evidence 3 months payslips bank statements but certainly not uncommon... the last thing you would want is for them to say something along the lines of he is due to leave on such and such a date.

It is possible to get an application through in under a month with the righ solicitor and lender - i had one just last week that completed in 20 days - but everyone had to pull together for that.

The alternative would be to find a lender who does not mind how long you have been with your current employer, that way it should stop any issues?

Apologies for slight deviation from original question but it will be relevant to the OP - how much emphasis on your period of time with current employer do your "bog standard" highstreet lenders (Halifax, Barclays etc) place?

ACG

It varies, some say 3 months, others say 6 or 12, others say continuous employment.

witchy1066

my partner has worked at his present employment for 5 years , had p60's and wage slips for the whole 5 years ( he keeps everything)
and they still wrote to his employer, she had to fill in form about his employment status,

this could have been because of the nature of his work or any reason but as others have said they can and do in some cases write to employers