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Original poster

Mortgage in probationary period...

8 replies

Architectahoy · 30/03/2023 11:09

Does anyone know if you can get a mortgage while in a probationary period? I would imagine not (for obvious risks etc!)

But just thought I'd ask...

I have a new job and we need to relocate 200 miles away. I assumed we'd have to rent until I pass the 6 month probation period (industry standard!)

But we have children and buying a house would be more settling for everyone...

OP posts:
ACurlyWurlyTail · 30/03/2023 11:27

as an ex mortgage underwriter we would have just asked for an employers reference of income. we wouldnt check probationary period, that may have changed though so ask your lender

Kfjsjdbd · 30/03/2023 11:32

I got a mortgage within my probationary period last year. It was a massive mortgage vs salary as well (4.6x salary) so I really wasn’t expecting it to be approved. It was an HSBC mortgage at a great rate, so basically the probation period had no impact at all.

I went through a mortgage broker who were very helpful with what products we would be able to get.

Kfjsjdbd · 30/03/2023 11:34

Actually in fact not only was I in a probationary period, I had just come off maternity leave. So I really did think I was on dodgy ground getting a mortgage approved. But still did anyway!

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SuchAFunAge · 30/03/2023 11:43

Hi OP, mortgage advisor here. There are indeed lenders who will give you a mortgage whilst on probation. Generally they will just require that it's a permanent contract, although some will also require you to have been in some form of continuous employment for the past 12 months. Hope this helps!

Original poster
Architectahoy · 30/03/2023 12:46

Brilliant! Our current mortgage is with Santander and we intend to port it to the new house and borrow a smidge extra. We only need about £30,000 extra.

(Well within affordability)

Thanks everyone! I'm so surprised!!

@Kfjsjdbd that's amazing! I hope Santander are chill

OP posts:
Original poster
Architectahoy · 30/03/2023 12:46

Thank you @SuchAFunAge - thats so helpful!

OP posts:
Original poster
Architectahoy · 30/03/2023 12:49

ACurlyWurlyTail · 30/03/2023 11:27

as an ex mortgage underwriter we would have just asked for an employers reference of income. we wouldnt check probationary period, that may have changed though so ask your lender

Thank you!!

I'm just a bit worried about the 12 month employment bit now as I've been out of work for 2 months. Eeek (literally moving because there's no work here and moving to a City with hundreds of vacancies!)

DH is on the mortgage and he's had the same job for 10 years. Lucky bugger!

OP posts:
GiltEdges · 30/03/2023 12:55

DH and I have both moved jobs regularly at various points over the past 5 years, during which we've had two remortgages. Neither time were we asked for anything other than annual salary and 3 months pay slips.

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