Probationary periods and mortgage applications! Help!

jellybaby8

Hi all,

I’m hoping some of you lovely lot will be able to offer me some advice regarding a worry I’m having that is stressing me out!

I’m a first time buyer (on my own) and have found the property for me! I have my AIP and am ready to make an offer but before I do I need to clear something up!

I have been at my current place of work for 11 months now. I started on a fixed term contract with a probationary period of 26 weeks (6 months) as the contract was coming to an end I applied for and was successful in earning a permanent contract (same employer just a slightly different role). My permanent contract states again a probationary period of 26 weeks. Will this affect my chances of getting a mortgage?
A manager at work told me it would not affect a mortgage application. My lender told me to ask for a letter from my employer!? I’m confused and wondering what the best step is?

Any help would be greatly appreciated!

Thanks

bobobski

I received a mortgage offer while on probation just a few weeks ago Your mortgage adviser will know which banks won't care and which banks you should avoid.

Tomg84

Myself and my wife just had a mortgage offer. She was in probation and less than two weeks into her first full time job. We did have to provide a signed contract and offer letter to the lender but it was very swift (went from application to mortgage offer in less than a week).

As above your mortgage advisor will know which banks are best fit for these circumstances.

GoingOn30

If you've not even offered yet then it may be some time until a full mortgage application is processed.
Try not to worry about this, it will be even less of an issue if you have a decent deposit saved (>15%).

Sanne

Agree with everyone above - I spoke to my mortgage broker when this was a potential situation (we waited a bit longer to buy in the end) and there are plenty of lenders who will consider buyers in their probationary period. The pool may be smaller but a broker will be able to help identify the right one.