Getting a mortgage with new job?

[Positivity11]

Hi all,

Has anyone got any experience on trying to get a mortgage at the same time as moving jobs?

I've been at the same company nearly 2 years and my partner is starting a new job next week (he is the higher earner and will be earning more in the new job). We will have a 25-30% deposit. We were going to move at the end of the year but the perfect house has come up for sale. Wondering if it would be worth contacting a mortgage broker or if he would need to be in the job 3 months minimum?

TIA

It's possible to get a mortgage offer during a job change as long as there is not a significant break between ending the old job and starting the new role (my own experience).

I recently got a mortgage without 3 months payslips, lender wanted at least one payslip with a copy of the contract of employment.

My broker said this was standard for most lenders, there are some which won’t but lots of the main providers are happy with this as a minimum.

I changed jobs when we got a mortgage, I had to a) show I wasn't on furlough in my old job, I.e. Payslips for that job and contract for new job.

Nationwide told me I could get a mortgage with a firm job offer letter even before starting the job.

Perfect, thank you everyone!

All my google research seemed quite negative about it so that feedback is very helpful

Ah we just looked into this. I'm changing jobs soon. Some lenders allowed me to apply for mortgahe based on new salary if I had a contract that stated new salary. Nationwide were the most lenient as allowed it upto 3 months before new job start date.

@surreygirl1987 thank you! It seems nationwide are the best by the looks of it, we have the contract with salary etc plus we wouldn't be borrowing up to the maximum we could be allowed so fingers crossed we can get something sorted!

Good luck!

Last year we'd started the mortgage process just as we hit the first lockdown. A week later DH was made redundant. We decided to come clean and hope he got another job quickly (which luckily he did within a month).

It was fine - the mortgage company took it all in their stride, and we had a reasonable deposit and could show we could afford the payments, so as long as he went pretty much straight from one job to the next, they weren't concerned.

We were with the Nationwide too!

Yes, but they may base their offer on his old salary or a blended salary taking into account both jobs. They may also be very interested in the terms of his probationary period (if there is one).

As long as you've got a contract, Halifax will let you get a mortgage up to 3 months before job starts.

And when we did it, they didn't care about my 6 month probationary period either.

I've just done this - with Barclays. No problem at all, just needed contract as proof. Good luck!

Yeh, nobody was interested in my probationary period either, nor my old salary, just my new one.

What happens if the new job is for a lower salary than the previous one? do the banks care/do you have to declare it?

You have to declare any anticipated change in finances - a new lower salary would count