mortgage following a period of unemployment

Lethal10

Hi everyone. Following a 16month break from working (for traveling and personal reasons) I have just got a new full time job and my partner and I will be looking to buy our own home again. I’m worried this gap in my employment will effect my chances at gaining a mortgage?
I have had a mortgage previously and never had any issues making payments. We are currently living with family so only outgoings are phone bills and petrol etc no debt on credit cards. Based on the area we are looking to buy in we already have a 25% deposit.
Any advise on whether we will be able to get a mortgage now, need to wait until I have been in my new job for 3 months or even longer?
Thanks in advance for anyone who can help.

kingstreet

As with most things, this is lender dependent.

Some lenders will want your business, others won't.

As with most things, an independent broker will find the best lender for you...

Clover70

I second what kingstreet said.

I had a six month break from work but found that many lenders had no issue with this. My problem was that after this break I started work on a fixed term contract (common in my field). The time off combined with the fixed term nature of my contract was an issue for many lenders, however our broker found some smaller lenders who had no problem with this (particularly because I am qualified in a particular area and had a good history prior to taking time off). In the end I ended up with a high street bank who initially said my employment was an issue but agreed to consider me as a 'policy exception' which was all approved and agreed very quickly and was a very good rate! Good luck and get a good broker!

Lethal10

That’s really reassuring to hear! Thank you, I’ll get on the hunt for a good broker!