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Probation period in new job causing issues

(18 Posts)
FudgeyCookie Sun 23-Oct-16 17:54:57

Dp and I looked around a house yesterday and fell in love with it. Right price, right area, good size and wouldn't have to really 'do' anything to move in e.g. redecorate.

We had a bank appointment yestersay after the viewing, mortgage agreed, except for the fact that I started a new job in august that has a 6 month probation period - which the advisor said could be a problem, but is going to check with someone higher than themselves and let me know tomorrow.

Has anyone else had this problem? She did say if I could get a letter stating that the company are happy with me and therefore passed probation period (even if not true/just to please underwriters) then it shouldn't be a problem.

Feeling naive and stupid today, first time buyers.

ImYourMama Sun 23-Oct-16 17:56:21

You will not be able to apply for the mortgage until you're out of your probationary period. I'm a qualified mortgage adviser. However if your partners salary is sufficient you could apply just in his name?

Fennwalker Sun 23-Oct-16 18:10:21

Interesting that a pp says this is not possible, I bought a house in the same situation recently. We went through London and Country brokers who recommended lenders who wouldn't have a problem with probation.

FudgeyCookie Sun 23-Oct-16 18:11:52

We wouldnt have anywhere near enough for a mortgage on just his wage, it would need both of us.

NotAMammy Sun 23-Oct-16 18:19:22

I would expect your employer to refuse to write a letter saying that you're out of your probation period without actually signing off your probation. In the past I've written letters stating the employees start date, end of probation date, whether there is a salary increase at the end of probation and that the role was permanent. This seemed to be sufficient for that employee/mortgage application.
To be fair, you might be able to argue that a probation isn't worth the paper it's written on anyway as you'll still have less than 2 yrs service, but that might not play in your favour!

PigletWasPoohsFriend Sun 23-Oct-16 18:21:56

Sorry but OP but I very much doubt an employer would do that.
You haven't even been there for half of the probation period yet.

FudgeyCookie Sun 23-Oct-16 18:25:52

Have just requested a call back from London and country thanks.

There is a pay increase but that is at the end of the training period, which finished on december the 9th. We are also both due a pay rise (we both work for the same company now, dp has been there for 4years in november) in about april, which is backdated from the beginning of October.

FudgeyCookie Sun 23-Oct-16 18:26:42

Piglet that's what I saI'd to the lady in the bank! She's going to call me tomorrow anyway.

OhTheRoses Sun 23-Oct-16 18:27:22

I'm HR. There's no way I'd write that letter but I would confirm providing it were true that no issues had been identified to date. I'd also go so far as to note that you arrived with excellent references which confirmed a stable employment history with no or no unexplained gaps, again that would have to be the case. Evidence of previous promotions and an upward trajectory, etc.

Fluffyears Sun 23-Oct-16 21:59:25

I've got a mortgage twice now within probation periods. I wasn't asked if I was on probation when I said first time I had been there 4 months and this time 5 months.

pdunne Mon 24-Oct-16 03:36:05

We recently got a mortgage while I was in a probationary period (partner not on probation), although I had been a doctoral student receiving a stipend from the university where I now have a job, so I'm not sure if they treated it differently because of that.

Helpmeltb Mon 24-Oct-16 04:33:46

We got a mortgage when dh had just started a new job (and was in his probation period) last year. It was about a month into his new job and he was by far the main earner (over double my salary). Mortgage was for 9-10 times my salary!

itlypocerka Mon 24-Oct-16 06:10:40

Have you asked the people you are buying from whether they are OK to wait till February when probation is over? It can easily take 3 months to sort out all the paperwork of a purchase anyway so if you get everything sorted with the sale on the understanding that the bank won't actually hand over any money until you have passed probation then all should be OK?

JoJoSM2 Mon 24-Oct-16 07:44:44

Helpmeltb, really? Aren't the repayments more than his take home pay?

Diamogs Mon 24-Oct-16 11:04:25

IME independent financial advisors are far better at getting you a mortgage than a bank (even though they have access to the bank's own products).

I have known people who were changing jobs / in probation / overtime as a significant part of their income be unable to get a mortgage from their own lender but via an intermediary. (I'm a PA to an Estate Agent)

Helpmeltb Mon 24-Oct-16 16:18:21

Jojo - was a 215k mortgage. I was on 21.5k at the time we applied. Iirc we could have borrowed more of he had stayed in his old job on lower salary but they were fine with him being in his probation period. He's on 50k+. We only had one possible lender though - partly because he was in his probation period but also because we were buying a new build with incentives and 85% LTV.

JoJoSM2 Tue 25-Oct-16 01:13:07

That makes sense ;)

YelloDraw Tue 25-Oct-16 11:02:26

Helpmeltb, really? Aren't the repayments more than his take home pay?

How do you work that maths out?

DH salary = 2x Helpmeltb salary
Mortgage = 10x Helpmeltb salary
Solve for mortgage = 5x DH salary
or approx 3.2x joint salary ;-)

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