James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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I have some questions about how jobs affect mortgage quotes.
I will ring up and check at some point but just wondering if anyone knows:
I've currently been in my job for 20 months. If I leave and get a new job on more money but I will only have been there for a few months when I get my mortgage, will this affect how much I can borrow?
Also do they take your employer into account? For example I work for a large investment bank, if I left and worked for a small city hedge fund, would this affect how much I can borrow?
Thanks.
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myke
Member
Registered: 7th Feb 01
Location: High Wycombe, Buckinghamshire
User status: Offline
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I don't think the employer would have any effect on any offers they made to you, but the duration in your current employment will have a bearing.
If you've just swapped companies and are still doing a similar role/same career then you should be OK, but they will be wary if you swap roles completely and follow a completely different career path. I think they will look for 12 months employment if you have completely swapped your job.
Saying that though, if you can change to get a much higher salary, then it's got to be worth it to be able to borrow the extra monies, right?
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Yeh, it will be the same career path etc, just a different company.
Thanks 
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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You normally require three month's worth of payslips from the employer at the time that the mortgage is set-up. That said, I only had two months on my then payscale, as I'd come off probation and onto contract with a full wage. The mortgage lender got in touch with my employer and they had to fill in numerous forms with regards to my pay level and contract status etc as I couldn't proove three months.
I borrowed what I needed when I was only on
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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I just got a mortgage and I'd only been in my current job 2 months.. Its not a huge factor as long as you can prove its permanent.
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