Mortgage FTB with new job.

Greyhorse

Hi,

Which companies are best for being most lenient with criteria?

I am looking to secure a 5% deposit mortgage (mortgage guarantee) ASAP due to being made homeless.
We have seen a property for £95000 we wish to view if it is still available by the end of September.
We have 5% deposit and enough for fees.

We earn combined £38200 from 1st of September.

I have been in my job for 4 years but my partner has only just started his on the 1st of September as a secondary school teacher (permanent contract but probationary period of 6months)

I have spoken to nationwide who said a letter from employer would be sufficient, but what would this have to say? They have also said new job shouldn't be an issue?
We have one payslip/contract with salary.

He has no p60 due to starting job now, previous to this he only has a part time payslip which does not reflect current wage. Would we need to provide a p60 even though it isn't accurate?

They have also stated they would need 3 bank statements, these are not the best reflection as partner has been waiting to start his new job hence we have been waiting for his first payday. Once he is paid we are in a good position as we have no dependants and minimal debt.

We are unable to wait to save as we are loosing our accommodation from 30th of September and hence need to move fast. We can stay with parents until completion but not long enough to save for a larger deposit. We also have pets which complicates matters with regards to renting. If we rent we won't be able to afford to save as rent is higher than the cost of a mortgage by quite a bit here so we will be stuck in a renting trap unless we buy now.

How is best to proceed with this to give us the best possible chance of securing this home?

OH gets payslip on the 19th. Could we technically meet with advisor that weekend to get a DIP and which banks would be best to try?

We considered an advisor but the costs quoted are too high for us!


Thanks everyone in advance.

Caprylate

Quite a few mortgage lenders have no minimum term in employment including ignoring probation.

You don't need to wait for the first payslip as your job contract will confirm your start date and salary.

Greyhorse

Really that's great news!

Do we just apply as normal (ie online with halifax for DIP) and then wait to explain the situation or should we discuss with the advisor before applying?

Edi81

If time is critical you would be best with a broker.

Kirstyb1987

His employer will need to write a simple letter... Starts on this day on a perm contract and will be earning £x per annum.

When I got my mortgage with nationwide I had changed roles (promotion meant I could proceed with purchasing a property) and nationwide accepted a letter from my AM which stated my increase in salary.

Good luck