is a new job a problem to get a mortgage?

remorseless

I am thinking about maybe applying for a new job (similar or better conditions), but I am also thinking about possibly buying something. Would that be a problem or would it be better to wait?

jhyt89

yes, you will need to be in a job for a good few months before applying to be safe.

benten69

Some lenders won't like it if you have recently moved to a new company (changing positions in the same company tends to be fine).

Reason is that if you are still under probation when they offer you a mortgage you might be out of a job 2 months later if you don't work out well with your new employer. However if you have been in one place for 2-3 years then they can be confident that you are fairly likely to still have a job in a few years time with all other things being equal.

remorseless

thank you! Big decision then... say if I get a new job with a new employer, how long is considered safe? 6 months?

jhyt89

remorseless wrote: »

thank you! Big decision then... say if I get a new job with a new employer, how long is considered safe? 6 months?

Probably past your probationary period at the very least

betmunch

jhyt89 wrote: »

yes, you will need to be in a job for a good few months before applying to be safe.

This is completely incorrect.

When managed correctly you can apply for a mortgage up to 3 months before even starting a job!

Speak to a professional about your plans and you should have no problem

jhyt89

betmunch wrote: »

This is completely incorrect.

When managed correctly you can apply for a mortgage up to 3 months before even starting a job!

Speak to a professional about your plans and you should have no problem

I did say to be safe. As it quite well known, they want you to be in your job past your probationary period. So it is better to be in a new job for a few months until the probation has passed.

remorseless

Thank you all, I suppose it'd be decision time for me... whether looking for a new job is good timing now or it's better to wait. I haven't even started looking for a real estate either, but good to keep in mind!

Angie_B

There are lenders who will lend during a probationary period. I know, because I just did this.

I was within the same industry as my previous job though.

Tlg1991

I have recently gone through this, went with a mortgage broker and he said the same thing that it may be an issue. it turned out it wasn't much of an issue and we got approved very fast with halifax.

May depend on the job role and career. I have had constant work for the past 5 year since I started working doing the same secure job role.

even though i was still in my probation period they never asked to see anything or send a letter to my employer.

remorseless

I agree - depends on the situation. I suppose a job hopper may have less chances than one with few jobs and long blocks (5+ yrs).