First Time Buyer - Mortgage based on job offer?

jstw

Hi,

I am have received a job offer for a job to start in September this year on a starting salary of 20k. Is it possible to start looking for mortgages just now or would I need to wait until I have worked for 3/6 months?

Also to add it's a permanent contract, I have a deposit of 60k (half is gifted from parents) and looking to borrow around 100k.

Any advice is much appreciated.

Edi81

Mortgages of 5x salary are difficult especially on £20k.

You are looking properties in the £150k range. How about looking for something cheaper?

Vestra

Edi81 wrote: »

Mortgages of 5x salary are difficult especially on £20k.

You are looking properties in the £150k range. How about looking for something cheaper?

Unfortunately the property prices in my area are very high. What do you think is a reasonable amount to borrow on that salary? 4X?

amnblog

Forget 5X.

4X is more likely to work but each case is considered on it's own merits.

The fact that you are trying to purchase before you have started the job is a major curve ball in itself.

Engage a mortgage broker.