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    • Lethal10
    • By Lethal10 10th Apr 18, 4:58 PM
    • 2Posts
    • 0Thanks
    mortgage following a period of unemployment
    • #1
    • 10th Apr 18, 4:58 PM
    mortgage following a period of unemployment 10th Apr 18 at 4:58 PM
    Hi everyone. Following a 16month break from working (for traveling and personal reasons) I have just got a new full time job and my partner and I will be looking to buy our own home again. Iím worried this gap in my employment will effect my chances at gaining a mortgage?
    I have had a mortgage previously and never had any issues making payments. We are currently living with family so only outgoings are phone bills and petrol etc no debt on credit cards. Based on the area we are looking to buy in we already have a 25% deposit.
    Any advise on whether we will be able to get a mortgage now, need to wait until I have been in my new job for 3 months or even longer?
    Thanks in advance for anyone who can help.
Page 1
    • kingstreet
    • By kingstreet 10th Apr 18, 5:02 PM
    • 34,136 Posts
    • 18,522 Thanks
    • #2
    • 10th Apr 18, 5:02 PM
    • #2
    • 10th Apr 18, 5:02 PM
    As with most things, this is lender dependent.

    Some lenders will want your business, others won't.

    As with most things, an independent broker will find the best lender for you...
    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.
    • Clover70
    • By Clover70 11th Apr 18, 4:15 PM
    • 2 Posts
    • 1 Thanks
    • #3
    • 11th Apr 18, 4:15 PM
    • #3
    • 11th Apr 18, 4:15 PM
    I second what kingstreet said.

    I had a six month break from work but found that many lenders had no issue with this. My problem was that after this break I started work on a fixed term contract (common in my field). The time off combined with the fixed term nature of my contract was an issue for many lenders, however our broker found some smaller lenders who had no problem with this (particularly because I am qualified in a particular area and had a good history prior to taking time off). In the end I ended up with a high street bank who initially said my employment was an issue but agreed to consider me as a 'policy exception' which was all approved and agreed very quickly and was a very good rate! Good luck and get a good broker!
    • Lethal10
    • By Lethal10 12th Apr 18, 5:16 PM
    • 2 Posts
    • 0 Thanks
    • #4
    • 12th Apr 18, 5:16 PM
    • #4
    • 12th Apr 18, 5:16 PM
    Thatís really reassuring to hear! Thank you, Iíll get on the hunt for a good broker!
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