Mortgages and Employment History

Chelez

Hi All, 
I'm hoping somebody may be able to shed some light on this for. Me and my partner are saving for our first mortgage and expect to potentially have a deposit together by early 2022. My partner only last month changed jobs and I may potentially be leaving my current role of 4 years within the next 3 months. I've heard that if you have been in your current employment for less than 12 months at the point of applying for a mortgage then this can negatively impact your application. For my own circumstances, the new role would be considerably more money, and therefore allow me to save more of a deposit sooner, but I don't want it to hinder me if they take employment history into account as part of the application. 

If we have both been in our current roles for less than a year when it comes to applying, how much of an impact will this have on the application? And can anybody explain this to me further? 

Thanks in advance. 

K_S

@chelez As long as you have been continously employed (no more than a few weeks break) and have a fresh payslip to show, this should not by itself stop you from accessing mainstream rates. If you are asking whether your "new" job will have an impact on your application - potentially, as lender "credit scoring" takes into account a number of things including how long you have been in a job. I wouldn't expect that one factor to have a material weightage though.

Chelez

@K_S Thank you for your response. So in effect then, our combined salaries and level of deposit will be a much more weighted factor that tenure in current role? I was just worried that changing jobs so close to applying for a mortgage could hinder my chances, despite higher income. Thanks for the reassurance.