Potential issues putting offer in on house?

RedFraggle

Lots of permanent contracts have probationary periods and policies vary between schools for both NQTs and experienced staff. If you haven't seen the contract yet I'd ask the question

soplum

RedFraggle said:

Lots of permanent contracts have probationary periods and policies vary between schools for both NQTs and experienced staff. If you haven't seen the contract yet I'd ask the question

I have the contract. It’s permanent after the new 2 year NQT period. However only 2% of NQTs fail this period so feeling pretty safe  

boxer234

soplum said:

RedFraggle said:

Lots of permanent contracts have probationary periods and policies vary between schools for both NQTs and experienced staff. If you haven't seen the contract yet I'd ask the question

I have the contract. It’s permanent after the new 2 year NQT period. However only 2% of NQTs fail this period so feeling pretty safe  

That’s because the vast majority who will fail are managed out. 

Mickygg

soplum said:

Mickygg said:

You have a MIP so that's fine as it shows you can get the mortgage. 
Put the offer in. 3 weeks will be taken up by price negotiations, sales memo, solicitors details, starting searches. 

Do we tell the sellers that we cannot apply for mortgage until the start of June? 

Hmmm I personally wouldn’t but you could run into an issue where you are asked for when the survey will happen, which of course would mean the mortgage survey. 

But take each step at a time, with offer, sales memo and then passing solicitors details you will do that first and can take a week.

if the seller has advertised as a quick sale, then that’s when I would say. 

Natrc

Personally I would be wary of putting in an offer and not being totally honest about your position if asked. Like other have said, often to get to the mortgage application stage it takes a bit of time, but what if the seller is looking for a quick sale? The last thing you want is the estate agents hounding you to apply or the seller getting fed up. I would ask the estate agent if they can tell you the sellers position and then see whether it would be a good idea. 
Remember, houses come up all the time, myself and my partner viewed what would have been our dream house on friday evening but are like yourselves and due to work have to wait to apply for a mortage until mid july. We were advised by our broker not to put any offers down until we would be able to get approved as it makes the process smoother. 

Also I want to echo what others have said above about the probationary period. My husband has been with a company since december but has now been taken on perm in march. We cannot get a mortgage until he has been employed for at least 3 months, so just be very careful. I assume your broker knows what he is doing, but its worth considering. You have 85% LTV now which is why the probably dont mind that your starting a new job, but if you end up offerring over AP and then it gets downvalued and you have to go to 90% LTV you may not get a mortgage in your circumstances. Personally, I wouldnt take the risk until you know you could get a mortgage tomorrow if you needed it. 

Redwino222

Are you sure you won’t need three months payslips?  Is your broker confident you will be okay?

I have been quite frustrated by how long it is taking my buyers with their mortgage.  We have been sale agreed for four weeks and valuation is happening tomorrow.  My estate agent has been ringing Them regularly seeking an update on their application.  

RedFraggle

soplum said:

RedFraggle said:

Lots of permanent contracts have probationary periods and policies vary between schools for both NQTs and experienced staff. If you haven't seen the contract yet I'd ask the question

I have the contract. It’s permanent after the new 2 year NQT period. However only 2% of NQTs fail this period so feeling pretty safe  

It's the lender that needs to feel safe though. Not you. 

soplum

Redwino222 said:

Are you sure you won’t need three months payslips?  Is your broker confident you will be okay?

I have been quite frustrated by how long it is taking my buyers with their mortgage.  We have been sale agreed for four weeks and valuation is happening tomorrow.  My estate agent has been ringing Them regularly seeking an update on their application.  

Our broker is sure he can get us a mortgage. He has my partners payslips (been in his company for 10 years) and has my offer letter/contract for my new job. 

He said there are places that definitely won't accept us but more than enough to find a good deal. In my vocation it is very hard not to have a job!