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Can I get a AIP while on probation?
Chloee95
Posts: 1 Newbie
Hi all,
Me and my partner were in the process of buying our first home together (still in the searching period) we previously had an AIP but it expired in May 2023, we decided not to renew it as this was when the interest rates went insane and we were priced out of our area, we've started looking again now with both prices and interest rates coming back down however I was recently made redundant effective immediately from my job due to insolvency. I've been lucky enough to get a new job just two weeks after being made redundant but this new job comes with a three month probation period (ends in December) and I start out on a 12-month contract with the plan that it becomes permanent once it finishes next September. The job is a slightly different role but within the same industry.
Are we able to get a AIP while waiting on the probation period to finish? I know that with my fixed term contract I need at least 6 months left on it when applying for a mortgage which hopefully I'll have, I'm just aware that a lot of the estate agents won't accept any viewings if you don't have an AIP.
Thanks!
Me and my partner were in the process of buying our first home together (still in the searching period) we previously had an AIP but it expired in May 2023, we decided not to renew it as this was when the interest rates went insane and we were priced out of our area, we've started looking again now with both prices and interest rates coming back down however I was recently made redundant effective immediately from my job due to insolvency. I've been lucky enough to get a new job just two weeks after being made redundant but this new job comes with a three month probation period (ends in December) and I start out on a 12-month contract with the plan that it becomes permanent once it finishes next September. The job is a slightly different role but within the same industry.
Are we able to get a AIP while waiting on the probation period to finish? I know that with my fixed term contract I need at least 6 months left on it when applying for a mortgage which hopefully I'll have, I'm just aware that a lot of the estate agents won't accept any viewings if you don't have an AIP.
Thanks!
0
Comments
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Your probation period will cause no issues. You'll have a reduced pool of lenders due to the fixed term contract and a decent broker will know who to avoid.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.2
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