Applying for mortgage while changing jobs

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Vince

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I've just accepted an offer of a new job in another county.
I'm co-owner on an apartment and my flat mate is buying me out.
Therefore we'll be wrapping up our mortgage and I'm looking for a mortgage on my own to buy a house.
My understanding is that when applying for a mortgage you need to provide evidence from your employer stating that you are in a 'secure' job.
The problem is that my new job will have a 6 months probation period.

Am I in a sticky situation or will my mortgage provider be understanding?

Going to speak to them today but any pointers would be useful beforehand.

Cheers!
 
Vince said:
I've just accepted an offer of a new job in another county.
I'm co-owner on an apartment and my flat mate is buying me out.
Therefore we'll be wrapping up our mortgage and I'm looking for a mortgage on my own to buy a house.
My understanding is that when applying for a mortgage you need to provide evidence from your employer stating that you are in a 'secure' job.
The problem is that my new job will have a 6 months probation period.

Am I in a sticky situation or will my mortgage provider be understanding?

Going to speak to them today but any pointers would be useful beforehand.

Cheers!
Click to expand...
I recently changed mortgage to First Active after starting a new job. They insisted that I couldn't do anything until after my probation was finished. I got my boss to end the probation after 3 months and that sorted it.
 
I think you might be stuck on this one unless your employer can do something for you.

I was in nearly the same position as you, and was told by my broker 'not to move jobs'. Friends told me this basically means 'make sure to sort the loan while still in my old job'. I believe that lenders view probation periods as too risky to be offering new loans because it is the case that sometimes it does not work out.

If you are in a joint-mortgage position with your friend, I think this'll make it a bit more complicated to apply for a new loan on your own.

You could get round it by using part of the proceeds from being bought out to rent for the six-months in your new location and this might give you the chance to propertly suss out what it's like and make the best purchase decision?
 
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