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Mortgage and starting new job

12 replies

MrsGEW1 · 30/05/2021 08:02

I've just accepted a new role, with a significantly higher salary and so am now in position to move to a bigger house.
Currently own a property and have been with the same mortgage provider for the 11years I've lived here.
My new job offer letter has a 3 month probation period, which is standard, but it dues state it does state the starting salary and that it is a permanent role.
Question is, am I able to apply for a new or increase in mortgage whilst in this probation period, I seem to remember that mortgage providers don't like to offer mortgages until these probation periods are over.
We're just at the start of the moving process, waiting to get house valued and on the market and it could be a while before our property sells so the three month might be taken up trying to agree a sale, but I'm wondering if anyone has any experience of this?

OP posts:
elephantasia · 31/05/2021 02:42

I'm in a similar position. I've been told it's fine - you just need one full month's payslip showing nee salary - this was with santander

Mintjulia · 31/05/2021 02:45

My mortgage is with HSBC. My role had a 3 month probationary period and the bank made me wait until 6 months before offering a mortgage. That was in 2011 so just after the crash while the housing market was still recovering.

Dinosauraddict · 31/05/2021 06:21

Halifax have never been concerned by probation periods when either DH or I had one.

WineAcademy · 31/05/2021 06:23

Just starting this process myself, and my broker has found plenty of lenders who aren't fussed that I'm still in the probationary period.

Candyapple49 · 31/05/2021 06:46

I got a mortgage when I had just started a new job with a 6 month probationary period . I had been in my previous job 13 years .

Springchickpea · 31/05/2021 07:00

Logically some banks must be ok with it, because otherwise nobody would be able to relocate for work. I don’t necessarily recommend staying with your current bank anyway, it’s best to appraise the whole market for the best deal. Even if you have been a loyal customer to the same bank for years you may not fit their lending profile this time.

MrsGEW1 · 31/05/2021 07:21

Thanks for all your replies, that has given me some hope. I'm going to contact a broker this week and get an appt.
My own bank was/is convenient, they can see all your finances straight away, the original deal was found through a broker 11years ago when I bought my current home. I have been in two continuous employments since I purchased the house and have a full complete payment history both on my mortgage and on bills, credit cards, loans etc so I shouldn't have any problems with my credit rating and eligibility.

OP posts:
MovingHouse21 · 31/05/2021 11:43

I am in a similar situation and I’ve been told by my broker Nationwide are prepared to give a mortgage based on a job offer letter where the job doesn’t even start for another 3 months.

starpatch · 31/05/2021 19:06

Yes I was told the same directly by Nationwide

MrsGEW1 · 27/06/2021 09:41

Quick update - started mortgage application with NatWest, they just require my new contract and first months payslip, so won't have any problems with our house purchase

OP posts:
mortz · 24/06/2022 10:23

Hi, I am on the same boat but different.

I have changed job already when they have given me the offer to a higher salary but a month later I was made redundant, luckily for some reason I had a feeling that I needed my previous role (prior to the new job) financially, to save up faster so I kept it and work weekends only. Now, I have been made redundant on the new job, I found another one after two weeks (this time it is in a bigger and stable well known company). NatWest are happy to go ahead as long as I give them my first payslip. However, another problem is if you start on the middle of the month, you will not be able to get your pay and payslip the month after (so we are talking about August 2022). Which is 10 weeks from now and that will just pissed my seller off and the fact that my lease will end on first week of Aug, its putting me on a tough situation either.

I wonder if anyone had experienced my situation in the past?

starpatch · 24/06/2022 22:02

As above Nationwide will take just a job offer letter so that would speed things up for you potentially, I don't know how long Nationwide are taking to process applications though.

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