Mortgage application q

jc11

Hi there,

Hoping to sell up next year and get a mortgage of around 100k to add to our funds from current house.

Husband started a new job last may with 1 year probation. Just wondering will the one years probation go towards required time banks want him to be in that job or will the 6-12 months required employment begin once the probation ends?

Also do they take part time work (permanent HSE) into account for application?

Cheers

Ursus Horribilis

I can't see why they wouldn't back date it to when he started. From an employee's point of view, all that probation does is puts a threat over their head for the year. He's still working in the job all this time, just a bit less securely than he'll be once the year is up. I've a mortgage and in my present job, I started off on a 2-year contract. Then after I got promoted I had a year's probation. Neither got mentioned in the salary cert that HR filled out for me.

The_Causeway

jc11 wrote: »

Hi there,

Hoping to sell up next year and get a mortgage of around 100k to add to our funds from current house.

Husband started a new job last may with 1 year probation. Just wondering will the one years probation go towards required time banks want him to be in that job or will the 6-12 months required employment begin once the probation ends?

Also do they take part time work (permanent HSE) into account for application?

Cheers

Once you're permanent they will take the income (once it's guaranteed). They will more than likely give you approval in principal with it being a condition of the loan that you provide evidence that he has passed probation before you are fully approved for the mortgage. They will take the 12 months into account from when he started i.e.
Start in Jan, you apply in let's say May, they take that as 5 months employment.

amtc

I got my mortgage having just been offered my job...