Mortgage application while changing jobs

timbelfast

Hi, does anyone have experience obtaining a First time buyer mortgage with a fresh new job beforehand?

We have a new site reserved with £1K and an AIP through from our bank based on my current permanent job.

However, I have been offered an ongoing contract for work as an offshore Electrician in the UK, so tax will be PAYE.

The proposed new job will double my current salary. It is through an agency for the first 3 - 4 months with the very likely possibility with a permanent position after that. Their client have the role advertised and normally use agencies to find them the right candidate.

I used my remaining annual leave from 2019 (3 weeks) and have my first trip already completed on the rig (Dec - Jan) and they have asked me back out later this month.

The figures for the mortgage are :

House price £250K
Current salary £41K
Deposit £80K
Savings £42K

Proposed new job salary/ rolling contract :
Jan / Feb £6.6K gross
March £6.6K gross
April £9.5K gross (uplift after 12 weeks)
May £9.5K gross


Do you think this may be possible, probably looking for a mortgage offer by end of February?

LRmortgage

I’m afraid I think you will struggle with this.
If your new job was permanent, then there would likely be options. But as it’s Agency and not guaranteed lenders won’t like it.

Get your details in front of an experienced broker, but you may have to wait until your job is made permanent.