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Changing job whilst applying - teacher
Tscho
Posts: 1 Newbie
Hello all!
My fiance and I were going to apply for a mortgage this summer but I've ended up changing jobs. I'm a teacher so have to resign in may in order to start a new position in the September. I have another job I'm going to, and will have a signed contract. Will this work against me when applying for a mortgage? Is it better to wait til September or even a few months in, or will most lenders accept the letter? My current school will pay me until august so there will be no gap in pay.
Really grateful for any advice or insight!
Many thanks
Tess
My fiance and I were going to apply for a mortgage this summer but I've ended up changing jobs. I'm a teacher so have to resign in may in order to start a new position in the September. I have another job I'm going to, and will have a signed contract. Will this work against me when applying for a mortgage? Is it better to wait til September or even a few months in, or will most lenders accept the letter? My current school will pay me until august so there will be no gap in pay.
Really grateful for any advice or insight!
Many thanks
Tess
0
Comments
-
Because of the summer holiday it may be a little different for teachers, but otherwise I'm in a similar situation in that I've just swtched jobs halfway through an application.
A good broker will be able to assess your situation in more detail, but in the meantime there are definitely lenders out there. For mine I've had to send a copy of my contract and wait for them to send my new employer a reference document proving my salary and the term of my employment. Other than pestering my new HR about getting an electronic contract and getting a location to send the reference there's been no issues.0 -
A regular issue for teachers.
The position of Lenders differs from
requiring that you have your first payslip in the new role to release funds
to requiring that you have passed your start date
to being happy to release funds before you start.
Which Lenders you can use depends on when you need the funds.
Brokers used to dealing with Porfessionals can manage this.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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