new mortgage if relocating for new job

nobler

Hi, hoping someone can advise on how long you need to be in a new job for before being likely to be accepted for a mortgage to purchase a property? (probably 40-50% LTV, if that makes any odds) Is is just a question of waiting til probationary period is passed or are mortgage companies likely to want a set minimum period? Previous mortgage will be paid off first, as we'd need to change deal/provider and borrow substantially more anyway. Thanks.

K_S

@nobler Assuming you've been continuously employed, there are a handful of mainstream lenders who will lend on the basis of an employment contract starting in the next 3 months, a good number of mainstream lenders that will consider lending on day 1 of the new job, and plenty that will consider once you have 1 full payslip.

As long as it's a permanent contract, probation is rarely an issue with most mainstream lenders.

Very generally speaking, once you have 1 full payslip, you'll have access to the vast majority of mainstream lenders.

nobler

(As is probably fairly obvious) I had thought it would be a much more protracted situation than that! This is great to know. Thank you.