Change of job

Mtrott71565

Hi everyone.

Me and my long term partner are currently in the process of house hunting/securing a mortgage. The only issue is I have been offered a job which I am considering taking yet it is circa 13k per year less than what I earn now. I also have a hire purchase with an outstanding balance of approx £5,500 which costs me £130 per month. We have been to see a mortgage advisor who advised that based on our current combined income we could borrow just under £200k and I did mention the potential loss of income and he advised we could still borrow up to 140k.Ideally we are looking to borrow no more than £130k. Neither of us have had bad credit in the past. A lot of people on here seem to say that scores from credit reference agencies are irrelevant so I know this is probably not important but mine are showing as excellent on Equifax and Experian and fair on Noddle (not quite sure why). I know there are lots
Of variables but would anyone be able to advise me just how adverse an affect me taking the job would have on securing the mortgage we want? Thanks.

starshapedbrick

From the sounds of it affordability isn't an issue based on a reduced income and what you are looking to buy. The one thing to be aware of when changing jobs is that if there is a probation period, you may have to wait until that is completed before you can get a mortgage. It does vary and a broker will be able to advise better, but that would be the one thing I would consider.