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  • FIRST POST
    • bam33
    • By bam33 9th May 18, 4:36 PM
    • 2Posts
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    bam33
    Changing jobs mid-mortgage application
    • #1
    • 9th May 18, 4:36 PM
    Changing jobs mid-mortgage application 9th May 18 at 4:36 PM
    Hi everyone,

    My husband and I just had our offer on a flat accepted. We have an agreement in principle through NatWest and are proceeding through our mortgage broker to complete the mortgage application. My husband will be the primary applicant as his salary is higher than mine and he's a British citizen, whereas I'm a resident of the UK (not indefinite leave yet) from the US. NatWest have confirmed that they would (in principle) accept me as a secondary applicant given my circumstances.

    I was just offered a new job in my field. The salary is lower than my current salary though not significantly, and there is a 3 month probation period. I've been employed at my current employer for the past 12 months and have provided payslips, P60, and bank statements to my broker for this employer. I'd like to accept the new job, but I'm worried that doing so would cause our application to be declined. I'm going to speak to my broker tomorrow as she'll be completing the application for us then, but thought I'd get your ideas on this and see if anyone else has had a similar experience. As the secondary applicant, would me changing jobs impact our ability to secure a mortgage?

    Thank you!
Page 1
    • Mortgage_Adviser
    • By Mortgage_Adviser 9th May 18, 4:56 PM
    • 150 Posts
    • 48 Thanks
    Mortgage_Adviser
    • #2
    • 9th May 18, 4:56 PM
    • #2
    • 9th May 18, 4:56 PM
    This is never a good idea to change jobs at this time.
    I am not saying you will not be getting a mortgage now, but the rate may potentially be worse.
    Also the lenders, when deciding if they should grant the mortgage to the applicant weight up the positives agains the negatives.
    Going to the new job with the probation is definitely a negative.
    You do need to make a decision now if you are going for a new job or not ads your broker will need to know for sure which route/lender to go for based on your decision about the job.
    • bam33
    • By bam33 10th May 18, 11:44 AM
    • 2 Posts
    • 0 Thanks
    bam33
    • #3
    • 10th May 18, 11:44 AM
    • #3
    • 10th May 18, 11:44 AM
    Thanks for your reply. My broker said that as long as the new salary doesn't impact affordability, and as long as I have a signed contract detailing the salary and start date, with payslips and bank statements from the past 6 months to show I've been continuously employed, it shouldn't impact my application, particularly as my husband is the primary applicant. Have I received bad information?
    • SouthLondonUser
    • By SouthLondonUser 10th May 18, 2:29 PM
    • 532 Posts
    • 77 Thanks
    SouthLondonUser
    • #4
    • 10th May 18, 2:29 PM
    • #4
    • 10th May 18, 2:29 PM
    You are asking a "how long is a piece of string" type of question.

    Bank's criteria change all the time - it's impossible to generalise.

    A good broker should have a good sense for which banks are more likely to decline your application in your circumstances, and which ones are less likely to do so. But clearly no one can provide any certainty.
    • amnblog
    • By amnblog 10th May 18, 9:31 PM
    • 10,631 Posts
    • 4,206 Thanks
    amnblog
    • #5
    • 10th May 18, 9:31 PM
    • #5
    • 10th May 18, 9:31 PM
    Thanks for your reply. My broker said that as long as the new salary doesn't impact affordability, and as long as I have a signed contract detailing the salary and start date, with payslips and bank statements from the past 6 months to show I've been continuously employed, it shouldn't impact my application, particularly as my husband is the primary applicant. Have I received bad information?
    Originally posted by bam33
    No, you havenít.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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