Any mortgage brokers on here that can help me?

[Summer2021x]

Currently in the process of switching jobs. I've already had the mortgage offer through so I'll need to inform the bank that my circumstances have changed. I spoke with an agent over the phone who said they do not accept applicants who have just started a new job.

I won't have a payslip for another month but I will be able to provide an employment contract. Does anyone know of any lenders that will accept someone under these circumstances?
I only have a 5% deposit. New job is on a lower salary unfortunately. Current job is 22k and new one is 20k.

Petrified that I'm going to lose this property.

Not a mortgage broker but having gone through a similar process I remember a few banks requiring you to be out of your probation period. You might be limited in the banks you can go to.

They’ll need to calculate your affordability on your new wage. Speak to a mortgage broker.

Your affordability is going to change, have you worked out if you can still afford the house?
I know it's just over £100 your loosing but this can make a difference as to what you can lend.

Get your contract ready and I would speak to a broker.

I would get on to it straight away.

A little confused you said you have already had you mortgage offer through yet later you talk about applications
Presume if you have had your mortgage offer through you are ready to move

Santander and Barclays will both lend with a contract, or if you’re inside a probation period. HSBC do in normal times, but I’m not sure about during Covid. NatWest used to want at least one payslip.

Then there will be other lenders, and potentially sub prime lenders too… but it’ll depend on your circumstances, credit rating, and affordability as well as their own policies.

And a 5% deposit might rule you out of some of those.

I went with Santander, same job different firm similar money, they just wanted to see one payslip.

@rosie1959 sorry if there's confusion.

I've had a mortgage offer but now my circumstances have changed and I will have to notify them. This particular bank will not lend to anyone unless they have 3 payslips.

I will have to apply with a different lender.

Presume if your mortgage offer is out you have already paid all your valuation fees ect for the lender as well as any broker fees involved ?

@rosie1959 yes unfortunately I have

But I was told if I don't notify the lender before completion then I'm committing mortgage fraud

I can see what you mean a bit of an unfortunate time to change your job if you had done it just after completion would have cost you less

Halifax gave us a mortgage based on contract only - they used to give you a mortgage up to 3 months before start date on the contract. Neither DH or I had actually started our jobs at the time.

@rosie1959 unfortunately I wasn't in a position to wait until after completion :(

I provided one payslip and a contract.

My broker said there are lenders who are very strict and others who are a bit flexible.

This was with Santander

I’m in the middle of hopefully getting a mortgage as I am just starting a new job (yesterday!). We are borrowing 4.6x our salary, so the absolute max, but do have a 40% deposit.

I’ve got an amazing broker who knows which lenders will accept our circumstances. We will hopefully end up with an HSBC mortgage all going well.

Not sure if I’m allowed to recommend but the broker is CLS.

I had this when we last moved. We had to pull our hsbc application (our existing provider) and get a broker to find someone who would accept us (Coventry).

It caused a lot of stress and was pretty nonsensical - the new job was a substantial promotion and pay rise. And if we had stayed in our old house we would have had the same hsbc mortgage. We weren't trying to borrow any more to move. It made no sense from a risk perspective but "computer said no". 🤷‍♀️