Leaving military starting new permanent contract

TaraTB

Hi all,

My husband is leaving the military at the end of June and is starting a new job on a permanent contract, at the beginning of July. We are currently in a married quarter and are trying to buy a house in time for the kids to start their new school in September. We will be moving an hour and a half away so no chance of commuting to school from our current location!

We have a mortgage agreed in principle from HSBC, found a house and have had an offer accepted. We didn't realise though that to proceed with the mortgage, HSBC would require the first pay slip as proof of our new income which we won't receive until the end of July, 8 weeks away! This will obviously delay the whole process.

We have spoken to a broker who says he can find mortgage companies that can proceed based on our previous salary (only £2000 less than the new salary) and will only need proof of the new contract. We don't really want to pay the £500 fees for the broker but we can't seem to find any companies offering a mortgage on these conditions.

So my questions are:

Does it sound realistic to get a mortgage based on previous salary and a new contract as the broker is saying?

Would it be quicker just to pay the broker as we have quite a short amount of time left in which to get everything sorted?

Does anyone have any experience similar to this and can offer any advice?

Or, even better, know of a bank/building society who can offer on these terms?

Any help would be greatly appreciated. We really don't want to spend money on a broker only to find ourselves in the same situation as we would be if we waited on the pay slip required for hsbc.

Many thanks.

thermal2844

Halifax considers applications where the job doesnt start for up to 6 months, have you tried an AIP with them? It is a soft check.

thermal2844

Adding - They will need to see a contract stating it is a permanent position, and the salary.

JP1978

Not all brokers charge - find one that doesnt - they will have access to the same lenders with the same terms. They get paid once the mortgage is accepted and by the bank, not you.

TamsinC

there are specialist military brokers that don't charge a fee - we are using one for our purchase.

TaraTB

Thanks so much for your replies, it really helps! Thermal2844, we will look at Halifax for sure, we'll have a signed contract in the next week or two. JP1978, great to know not all brokers charge, I got the feeling we were being led down an unnecessary path. TamsinC, which brokers did you use?

TamsinC

TaraTB wrote: »

Thanks so much for your replies, it really helps! Thermal2844, we will look at Halifax for sure, we'll have a signed contract in the next week or two. JP1978, great to know not all brokers charge, I got the feeling we were being led down an unnecessary path. TamsinC, which brokers did you use?

I have messaged you