Mortgage in principal - before starting job?

[Dreamingofthishouse]

Just a quick question, have currently sale agreed our house to a couple, we have been told verbally they have mortgage in principal, ready to go etc - those type of phrases, first time buyer. However I’m just realising i know for definitely one of the couple has just finished off a degree and is starting a permanent job in July, the other has a permanent job. Will there be issue with the application before the job commences- as I thought was 3 months pay slips needed?! I’m annoyed at myself i didn’t question this and took at face value but hoping no issues down the line no with the actual application? Anyone any experience?

From my recent experience the underwriters are happy with a contract for a new role. I provided three pay slips but they were from my old job so pretty irrelevant!

@Leftoverssandwich thanks that’s great , hopefully works out the same then!

My OH said the other day 'good luck getting a mortgage when you are still in your probationary period.' I have no idea if he knows what he is talking about.

Hopefully that's just certain lenders.

Getting a mortgage is far harder than usual at the mo though, so maybe it is a new thing.

Or - he's just clueless!

Your payslips may have seemed a bit irrelevant, but your bank still wanted to see them. It sounds like the OP's would-be buyer might not be able to satisfy a similar request, so that could be an issue!

Yes, I don’t know what would have happened if I hadn’t had them, but DH was in the very early days of contracting, without three months of steady income behind him, and we still managed to get a mortgage offer. We did use a broker who found us the right provider but we were pretty astonished that our combined circumstances didn’t rule us out.

It used to be you couldn’t get a mortgage in your probation period but apparently that isn’t the case now. We’re moving and I started a new job last year. When we started the process of moving and have a chat with the mortgage broker they said that wasn’t the case anymore, they would just need my contract. I imagine the FTB won’t be looking to move until the second person is earning and they’ll have to supply that first months payslip then but it’s likely to be July before all the searches and enquiries are done anyway.

I got a mortgage last year based on a signed contract before I’d even started my new job (was still in notice period for old job)

I'm in the process of getting a MIP, I can get one with an employment contract for a job I will start and then will need 1 months payslip to actually get the lending.

Could they be getting it on one persons salary?

I work in a mortgage brokers, you can get a mortgage with a signed employment contract without having started yet.