Job change during mortgage application

[Amy5261]

Hello,

we are currently in the process of moving house (have sold and house hunting currently) and have just been offered a new job. It’s more money, better prospects and I’m unhappy where I am so I am very keen to take it, however I am concerned it will impact on my mortgage application

does anyone have experience of a similar situation?

thank you!

We’re in the same boat, husband starts new job tomorrow. we haven’t applied for any mortgages yet as we can’t find anything to buy, so don’t know what impact will be.

I’m hoping it’s not an issue as I earn double his salary and we have a large amount of equity. If we struggle we’ll just rent a bit longer before we buy (we’ve relocated hence the rental as well as house sale)

hope it isn’t an issue for you

It will have an impact, as usually mortgage companies want 3 months of payslips to base your affordability on. They could withdraw your mortgage offer, I would ask your mortgage company first as a hypothetical before doing it

You must tell them- it’s a material change in circumstances since the last time you applied- it won’t mean you losing the product you’ve been offered but failing to declare will result in you losing the deal, being blacklisted, etc.

I took mortgage advice this week and was advised it would make zero difference. I’m sure there are lenders who might look unfavourably on it but the brokers I spoke to (two different ones) said not to worry at all. And indeed my partner switched jobs while we were applying for our first mortgage over a decade ago and there was no issue…

Thank you guys - just for clarity I am absolutely planning to let our mortgage provider know.

@wtftodo that reassures me thank you! I will call our current lenders tomorrow and check but this makes me feel better about it.

I was in a similar situation. I had to provide a signed copy of my new contract and proof from HR of salary. I'd started new job before our application was approved and had my first payslip as evidence

Both my husband and I have done this (different purchases) and it had zero impact (annoyingly, the properties completed after we had each done 3 months). Just be straight with them.

It will depend on the lender. Some require 3 months payslips but not all.