Length of Time in Employment when Applying for a Mortgage

S

Sweet Pea

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I will be in my current job for two years in May. I will be seeking mortgage approval in the next couple of months or so as I'm looking to buy an apartment. However, I want to move job as I am unhappy with my salary. I have been putting off moving job until I get mortgage approval as I've heard that the banks and building societies need to see that you've been in permanent employment for at least 6 months and that preferably you should be at least 2 years in a job.

Friends have advised me however, that this is no longer the case and that I should not wait until I get mortgage approval to get a new job.

Any advice appreciated,
Sweet Pea
 
For 100% mortgages you need a minimum of one years employment history (preferably three but not necessarily with the same employer) - for 92% mortgages there is no minimum but in all cases you must have completed any probationary period before you can complete on the purchase.

Sarah

www.rea.ie
 
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