Mortgage Question

Beruthiel

just a little question

I am thinking of buying a house with me bloke...

the thing is, he is thinking of changing his job

how would that effect us getting a mortage?
I have been in the same job for over 4 years, but will they require him to be in one for x amount of time as well?

Gurgle

Beruthiel wrote:

will they require him to be in one for x amount of time as well?

T'would be best.
Especially if your borrowing close to your combined max.
Of course he can quit as soon as the deal is closed.

MojoMaker

Usually 3 months B, although it's last year's income they base the majority of the decision on. With a decent credit history they might agree to come down to the first one or two payslips to establish a financial pattern. Although if you've been out of work for even a few months your first pay packet back is usually pretty skewed with unused tax credits which is why they like to wait and see it settle down over 3 months. Why not ask a mortgage advisor to be sure though, they have ways and means of cutting better deals.

delly

On the application, they'll ask you how long you've been at your current job etc. and if there is a pay scale, pension and other such things. They will want your last P60 along with your last 3 pay slips.

I don't know how much moving his job will effect the application, but they do like to see consistence in the workplace, as last years P60 won't mean squat if hes in a new job.

delly

As a side note, if you want to see what your credit history is, or what they will see when they do a check on you, go here, to get a full explanation, and instructions on how to apply for a copy yourself.

Beruthiel

thanks folks!

Hagar

He is only thinking of changing his job, you don't have to put that on any form.
They are only interested in the present and past history.
Apply before he changes.
Say nothing and keep your head down.

Beruthiel

lol
good thinking batman