New Job, how soon can I get a mortgage?

[doogle83]

On 1st April my current fixed rate expires. The plan was to pay off the mortgage in full at this point and focus on the new job without the worry of having a mortgage over my head. (It's a start up company, all kicked off in November last year, I won't receive a pay cheque until the end of April).

Sods law, a house has appeared that the OH would love to move in to but it would mean we still need a mortgage to make it happen. I can't just port the current mortgage as my lender basically makes you re-apply from scratch and I don't think they'd lend anything based on me not having an income from Jan - April this year.

The mortgage would need to be in the region of £50k against £475k property.

Would anyone lend to me at the end of April once I have proof of earnings in a new job? Do I need to prove 3 months, 6 months? Not sure what the standard is these days.

My OH has part-time earnings of ~ £14k. Is there any issue with her having the mortgage solely in her name and could / would I need to be named on the deeds on the house still?

Thanks,

Edited by doogle83 on Thursday 2nd March 21:12

[jonny70]

I believe you only need 1 month pay slip with quite a few mortgage companies as long as you have a 25% deposit plus

[p1stonhead]

Ive gotten one with a signed contract even before I started.

[doogle83]

Awesome, that's encouraging then. Thanks for the replies.

I guess a follow on question is... how much do lenders look in to the actual company you work for? As a new business there aren't any published accounts etc yet.

[Moominho]

Sarnie is the guy for this question, however I think it is 3 months proof required.

[Moominho]

Just saw the amount required - that probably won't be such an issue then...

[adam.]

p1stonhead said:

Ive gotten one with a signed contract even before I started.

This is how I got my first mortgage, I hadn't even started at my new job yet, but had a signed contract.

But, the mortgage company did ask if I was going into a similar line of work. Which may or may not still be relevant, they also wanted 3 months of payslips from my previous job.