We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
New job/salary - how will mortgage broker view?
TCD_2
Posts: 5 Forumite
Hi all, appreciate any thoughts people may have on this.
I have a decent salary (lucky) and am selling my house at the moment, likely to have £200k from the sale as a deposit. My current mortgage provider has given me a mortgage in principle based on current salary and LTV ratio with said deposit.
However I am likely changing jobs soon and would expect an uplift in salary. Can I get a new mortgage in principle on the new salary once I have a contract or do I have to have been in employment with the new job and received pay cheques? Will they view risk differently in a new job and be less generous in the mortgage they would give me?
Many thanks for your time.
TCD
I have a decent salary (lucky) and am selling my house at the moment, likely to have £200k from the sale as a deposit. My current mortgage provider has given me a mortgage in principle based on current salary and LTV ratio with said deposit.
However I am likely changing jobs soon and would expect an uplift in salary. Can I get a new mortgage in principle on the new salary once I have a contract or do I have to have been in employment with the new job and received pay cheques? Will they view risk differently in a new job and be less generous in the mortgage they would give me?
Many thanks for your time.
TCD
0
Comments
-
You may have less options depending on whether or not you have started the new job, but there are a couple of lenders (at normal rates) who will accept a letter of employment for the new job as evidence of income - within reason.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards