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Advice on how a new job affects mortgage application
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theylive
Posts: 3 Newbie
Hi all, has anyone had any experience with applying for a mortgage whilst starting a new job?
I’ve been with my currently employer for 2 months now, I’ve also been in regular employment since 2014.
I’ve heard a lot of various things that being with a current employer for only a short period can affect rates, I’ve also heard that as long as there’s consistent employment then it’s not an issue.
I’m just interested to see if anyone has experience with my situation.
Any help and advice is greatly appreciated
I’ve been with my currently employer for 2 months now, I’ve also been in regular employment since 2014.
I’ve heard a lot of various things that being with a current employer for only a short period can affect rates, I’ve also heard that as long as there’s consistent employment then it’s not an issue.
I’m just interested to see if anyone has experience with my situation.
Any help and advice is greatly appreciated
0
Comments
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Lender have various criteria in terms of this. Some lenders will accept the new income up to 3 months before you start a new job provided you have a contract, others will want you in the job for at least 3 months prior to applying. Based on the info provided you should have access to plenty of mortgage lenders.0
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Some lenders will have an issue with this; some won't. Undertake proper research to ensure correct lender selection.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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It is not a problem at all. Being new to the job might rule out a few lenders, but you will still have access to other mainstream lenders and rates. There are even lenders who are happy to use the contract for a role that hasn't started yet!
But yes, for access to the maximum number of lenders, having been in the job for at least 3-6 months, out of probation and continously employed for the last couple of years will be advisable.
Either do your own research or consult a broker to pick the right lender/product.Hi all, has anyone had any experience with applying for a mortgage whilst starting a new job?
I’ve been with my currently employer for 2 months now, I’ve also been in regular employment since 2014.
I’ve heard a lot of various things that being with a current employer for only a short period can affect rates, I’ve also heard that as long as there’s consistent employment then it’s not an issue.
I’m just interested to see if anyone has experience with my situation.
Any help and advice is greatly appreciated0
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