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Not in work long enough?
Dotcom77
Posts: 2 Newbie
Last year I was made redundant in March and found a new job in July (my partner is in full time work).
We recently applied for a mortgage via a broker and my work history was made clear in the initial forms and we received an OIP. We have now paid for the searches, but it's been mooted that the mortgage company wants to see a continuous year's worth of employment history.
Will this be an issue and shouldn't the broker have advised us if it is?
So close!
We recently applied for a mortgage via a broker and my work history was made clear in the initial forms and we received an OIP. We have now paid for the searches, but it's been mooted that the mortgage company wants to see a continuous year's worth of employment history.
Will this be an issue and shouldn't the broker have advised us if it is?
So close!
0
Comments
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It varies from lender to lender, so impossible for us to say.
Yes, the broker should ensure you meet the lender criteria prior to submitting an application.
Suggest discussing with them if/when there's an issue.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Whos the lender?
And whos been mooting that you need a years work history?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
3 months is the usual?0
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There is no "usual".
It can be:
All you need is a contract of employment,
You need to have started,
You need 1 payslips,
3 months,
6 months,
12 months
or beyond probationary period.
It will all come down to the lender.
Seems strange that this has only been picked up on after the offer has been issues. It would be interested to see what was put on the application form.
Who is the lender?
As a percentage how much deposit are you putting down?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
They have asked for my contract of employment and I'm hoping that will do the trick. The deposit 40%, 15 year term.0
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