How long do you have to be at a job before applying for a mortgage?

itsthelittlethings

Ballpark figure please. I just got stuck on getting a decision in principle and I think it was because I’ve only been at my job four months. There must be a rule of thumb?

grumpy_codger

I think they normally want to see the payslips for the last three months.

glennevis

My friend had to be employed for six months.

tbriggs166

normally 3 months payslip. If you are still in a probation period for your job they take that into account

kingstreet

itsthelittlethings said:

Ballpark figure please. I just got stuck on getting a decision in principle and I think it was because I’ve only been at my job four months. There must be a rule of thumb?

Depends on lender. A couple will work from a job offer and start date. Some want first pay slip. Others want latest two or three pay slips. 

itsthelittlethings

Can you get a personal loan for property if you only need 25k?

ACG

Some lenders only need a contract of employment. 
Other lenders need between 1-24 months. 

One lender saying no doesnt mean they all will. But the less time you have been in the job potentially means lower points at the credit check so if you are borderline anyway, it might make a difference but in the main with 4 months you should have plenty of options. 

retiredbanker1

itsthelittlethings said:

Can you get a personal loan for property if you only need 25k?

Banks will not lend for property on a personal loan basis.

retiredbanker1

itsthelittlethings said:

Ballpark figure please. I just got stuck on getting a decision in principle and I think it was because I’ve only been at my job four months. There must be a rule of thumb?

It will depend there is no hard and fast rule,
An example - if you are 4 months into a six month trial - you would not be eligible for most lenders.
If your position is permanent most would consider you - but each lender will have its own criteria.