Mortgage with one month employment?

GigglySquid

I will be starting a new job as a teacher in September (although I have been training at the school I am working at since February and in the employment sector for a year). My husband has been in his job for years and we have no outstanding debt (credit cards paid off in full each month). We have had an offer accepted on a lovely house (we're after around a 75% mortgage, but can be slightly flexible) and the vendor is happy to wait until October to exchange.

We had a meeting with Barclays around six months ago and were told that we would be able to get a mortgage approved with one month employment history and my contract. Fantastic! However, we are looking at getting another agreement in principle (because this one will expire soon) and the person we spoke too this time didn't think my first month's pay slip would be enough - although she said she would contact the mortgage advisor for us.

We are going to have a meeting soon, but I was just wondering if anyone had any experience with this? Was the first person lying to us? :eek:

kingstreet

Several lenders will do this.

jonnygee2

You might be able to get help from a specialist broker, e.g. https://www.teachersbs.co.uk/i-am/newly-qualified-teacher ?

Standard mortgages will need a few months payslips and I think you are less likely to find something walking directly into high street banks in your circumstances.

Southernman

I'm not sure if this is quite the same but i left my job at one company and only had one payslip for my new company before applying for a mortgage.

There was no gap in my employment history though.

Smellyonion

Most companies are ok with it providing it's a permanent contact.

Others will want 3 months. Others will want out of probation period.

LRmortgage

Speak to a broker, there should be high street options for this.

amnblog

This one is all about timing.

If you want to buy before you start work you will have limited lending options.

If you want to buy after you start but before you get paid, your options broaden slightly.

If you are buying after your first payment your options are broader still.

Hence this is a case for an experienced Broker.