Can I get a mortgage if I have a new job?

A reader is worried she will not be able to get a mortgage as she has just started a new job – despite having a deposit behind her.

Tony Davis, myfinances.co.uk mortgage expert from Mortgage Meadow, takes her through the problem.

Sheena asks

I have recently changed jobs and have been at my new job for less than a month. Will this affect my mortgage application? We have a ten per cent deposit for the property.

Which lenders are happy to accommodate my circumstances? Will the banks accommodate?

Thanks

Tony replies:

There are some lenders that will not agree a mortgage whilst a borrower is in a period of probation in a new job and there are even some that require a borrower to have been in their current employment for a number of months.

However, the majority of lenders will not be concerned by your recent change of employment, provided that there was not a long gap between jobs and certainly, I would not foresee a probably with the likes of Halifax, Abbey, Cheltenham and Gloucester to name a few.

If you have a question for Tony, go to the myfinances.co.uk Ask the Mortgage Expert section.

Or for more information or mortgage advice go to Mortgage Meadow.

Mortgage Meadow is an independent mortgage broker and is authorised and regulated by the Financial Services Authority.