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Mortgage application with a new job?
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hopeitwill
Posts: 172 Forumite

Hi everyone,
I have a question around mortgage applications with a new job especially during the pandemic.
Our story is that I accepted a new offer before even thing about a mortgage - same line of work (title change but for the better), different company but one of the most reputable companies in the UK, permanent contract but a 6 month probationary period. 40% increase in salary compared to my current one. My OH makes about 35k and I will also be making 35k (at the moment 25k). I have been working consistently for the last 3,5 years.
We have been renting a house for the last 2,5 years and our landlord all of a sudden decided to sell the house. We are really interested in buying it with a deposit that will be gifted from my OH's parents. We have never had any problems paying the rent, our landlord loves us and happy to sell the house to us. We also never had any defaulted payments nor any adverse credit history. We have two loans in total of 5k but could just pay those off if we wanted to before a full application. No other loans at all.
Now the question is, are there still lenders who would be ok with a permanent contract in the future? I have an AIP (75% LTV) from a lender but it is based on my current salary. I would be on notice until about October in my current job, my OH has been working for the last 3,5 years with the same company, with generous annual bonuses and salary increases.
I have been searching around this forum for people who were kind of in our situation but with the pandemic, I just assume most lenders tightened their criterium around lending money to people who will change jobs.
I would appreciate any help/experience around this.
I have a question around mortgage applications with a new job especially during the pandemic.
Our story is that I accepted a new offer before even thing about a mortgage - same line of work (title change but for the better), different company but one of the most reputable companies in the UK, permanent contract but a 6 month probationary period. 40% increase in salary compared to my current one. My OH makes about 35k and I will also be making 35k (at the moment 25k). I have been working consistently for the last 3,5 years.
We have been renting a house for the last 2,5 years and our landlord all of a sudden decided to sell the house. We are really interested in buying it with a deposit that will be gifted from my OH's parents. We have never had any problems paying the rent, our landlord loves us and happy to sell the house to us. We also never had any defaulted payments nor any adverse credit history. We have two loans in total of 5k but could just pay those off if we wanted to before a full application. No other loans at all.
Now the question is, are there still lenders who would be ok with a permanent contract in the future? I have an AIP (75% LTV) from a lender but it is based on my current salary. I would be on notice until about October in my current job, my OH has been working for the last 3,5 years with the same company, with generous annual bonuses and salary increases.
I have been searching around this forum for people who were kind of in our situation but with the pandemic, I just assume most lenders tightened their criterium around lending money to people who will change jobs.
I would appreciate any help/experience around this.
0
Comments
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There are lenders who will lend with a contract and confirmed commencement date.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.1
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Would Halifax be one of them? There are some contradicting posts around here but it is down to personal circumstances I suppose and the underwriter as well.0
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