Continuous Employment

janoid19

Hi,

We have sent our full application along with extra documents which were requested to Precise Mortgages.
My partner has only been at his current job 10 months and before this had 2 months between jobs as his previous company was sold.

We were not told that 1 year continuous employment was needed and now I'm positive we are going to be declined. Does anyone know how strict Precise are on this or had similar experience with other mortgage lenders?

Thanks

MrSaver96

Hi Janoid19,

Me and my partner have just applied and been accepted for a mortgage. My partner was only in her job for 6 months and we were accepted no issues or questions asked (although we did have to provide her employment contract to prove she had a job!). We used Principality.

Are you using a broker? They should have flagged this early on if there was going to be an issue.

ACG

I think the general rule is anything more than 2-4 weeks (depending on lender. 2 months I think would be outside criteria.

I dont understand how the application has even been submitted as the system they use would not allow you to proceed without 12 months employment history.

janoid19

They have just asked for an employment contract today so we will be sending that too them.

No it wasn't mentioned and we weren't asked if we had any gaps in employment.

Yes we are using a mortgage advisor and so i'm not sure what was submitted as surely it would have asked about previous employment.

janoid19

His previous employer sold the company and then his new job role was not available until 2 months later so there was nothing he could do which is very irritating.

MrSaver96

I think you will be fine in these circumstances. It doesn’t seem right that they would reject you given the time in the new job (although I’m obviously not an expert). Has the broker suggested that you will be rejected or are you just worrying?

I think so long your partner is out of his probationary period you should be fine. The employment contract will confirm this and so this may be one of the reasons why they requested it.

janoid19

Yes he is out of his probationary period but I am worrying as our mortgage advisor just told me today that the lender is looking for 12 months continuous employment, so no break in employment, as well as the usual 3 months in current job.

My partner had a 2 month break between his old job and current job due to no fault of his own.

I’m not sure if it’s discretionary or set in stone.

Thanks

ACG

When your broker asked for evidence of 12 months of continuous employment and you said it is not possible - what was said?

You need to speak to your broker, they will hopefully have spoken to Precise about this.

We tend to avoid Precise as historically they were a bit too fussy on cases that did fit criteria. Personally the only way I can see this proceeding is if you delayed completion until he has been there for 12 months, which should not be too much of a delay, but as we do not use Precise a lot, I could be wrong.

janoid19

We told our broker of my partners previous employment history but didn't mention it needed to be continuous, just the last 3 months payslips, 3 months bank statements and p60's which we are still waiting for this years from his current employer.

He said he is going to speak with Precise and I wouldn't mind delaying the mortgage as our current completion date is 12th July which was given to us by the estate agent..and by the end of June he'll have been there a year.

amnblog

Precise say

Applicants must be in permanent employment that is not subject to a current probationary period. Applicants must have been in their current job for a minimum of 3 months with 12 months continuous employment.

Your case does not fit. They may allow it as a concession given the circumstances but ‘Plan B’ needs to be ready.

janoid19

Yes, this is my worry.

Ive sent an email to to my mortgage broker to ask what 'Plan B' would be.

Thanks for your help.