Moving to a new city - what to put for employment on mortgage?

Ella235

Hello

Just looking for some advice and to see if others have been in a similar situation.
My partner has a mortgage in his name in the house we both live in. We are looking to move to a new city in the summer and will be applying for a joint mortgage.

I am a teacher. He is self employed. My question to relates to something a colleague told me when they were moving house and leaving their job.
When we apply for our mortgage we will be assessed based on our current income and our jobs. When we move to a new a city I will have had to hand my notice in in May as that is what is required for teachers. I am looking at possibly doing supply work when we move as I am getting stressed trying to find a job and a house at the same time. Would it be considered fraud to sign the paper work on day of completion if I have already handed my notice in at my job? Ideally we’d be looking to complete in August/September time which would mean I would have already handed my notice in. My employment would end on 31st August so I’d technically still be in my job if we completed before then?

Any advice please?!? I know people move to new cities all of the time so what happens with jobs being different to what is on the mortgage?
We can 100% afford the mortgage that we are being offered and have a large deposit. We’re moving from the south to the north so you can imagine the price difference! Payment of mortgage will not be an issue even if I do supply work.

Thanks all

amnblog

No Lender is going to consider employment in the South and occupation in the North unless they feel it is practical for you to work away from your home during the week.

If you have a new job offer to start in September some lenders will advance you funds before you start as teachers usually move in August.

Ella235

Sorry, I don’t really understand what this means.

Does it mean that a lender wouldn’t be able to take our current employment into consideration when we are looking for a mortgage?

How would we get a mortgage?

ACG

Ella235 wrote: »

Would it be considered fraud to sign the paper work on day of completion if I have already handed my notice in at my job?

Yes. If you apply for a mortgage knowing your circumstances will change and do not disclose it, yes it is fraud. If your circumstances change between application and completion and do not tell the lender, you are in breach of the terms and they could pull the offer or recall the mortgage - both worst case scenarios, but both possible.

If you are planning to move to Birmingham from Devon for example, an underwriter is not going to believe you will travel for 4-6 hours there and then back for a job.

Some lenders will accept you with a contract of employment (temping wont cut it) even if you have not officially started the job at the time of application/completion.

If you can not get a permanent position prior to applying then you will likely need to rent in the new area until you do have a new job.

Ella235

Thank you.

I had initially planned to have a job lined up for September and this is still an option but wanted to see what our options were if I didn’t get a job straight away.

Mr.Generous

I don't know the answer sorry but its an interesting question from the basis of fixed term contracts too, many people employed on 1 or 2 year contracts. If you are 18 months into a 2 year and you apply for a mortgage what do they do? If they won't give mortgages to those people that's an awful lot of customers they aren't getting.

ViolaLass

Might it be wise to move to the new city and get to know it before buying there?

Ella235

We know the city as it is where my partner is originally from and all of his family are there.

Ella235

Thanks for the replies
I can see our options are getting a job lined up before moving or renting.

I have read in other posts that you would need a job for at least a year before applying? Is this true? It would be the same job I’ve had for 7 years just in a new city. Just worried about renting and then having to wait another year to buy

ViolaLass

If you decide to go into supply, you will find it much more difficult to get a mortgage than if you are a teacher with a contract. Not impossible, but harder and it will take longer.

kingstreet

Ella235 wrote: »

I have read in other posts that you would need a job for at least a year before applying? Is this true?

No. It isn't.