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Changing job and buying a house

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  • 17-02-2015 6:19pm
    #1
    Deco99
    Registered Users Posts: 1,642 ✭✭✭


    Straightforward question, maybe straightforward answer. I have mortgage approval til may. I also want to switch jobs, specifically because I will get paid more elsewhere. Having 6 years with current employer is a no no to switch until mortgage is drawn down?


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    #2
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,845 Mod ✭✭✭✭L1011


    You'd need new approval which would be very unlikely to be given. Hold out until after purchasing.


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    #3
    colm_c
    Registered Users Posts: 2,030 ✭✭✭colm_c


    Specifically until after draw down of the mortgage.

    Otherwise you could be looking to wait 6+ months in the new job until you've passed the probationary period.


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    #4
    Deco99
    Registered Users Posts: 1,642 ✭✭✭Deco99


    Thing is, there is no house yet and at current stock may not find one for a good while.


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    #5
    jon1981
    Registered Users Posts: 4,359 ✭✭✭jon1981


    Say nothing, once the mortgage is approved they won't recheck it again at time of draw down (assuming there were no red flags to check!). I was in the situation. Ok i know it's not right but just sharing my experience.

    P.S this is only in the situation were you find a house before May, otherwise don't move jobs until you resubmit a new application.


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    #6
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    We should have full mortgage approval on a house we're sale agreed on in the next few days. I'm still on probation until the end of March. Bank is Ulster Bank and they knew this situation for the last month when we wanted approval in principle, but they waived the requirement to be out of probation with no conditions as I've been employed continuously in the same industry for years.

    Been in the same industry and having a good spell of continuous employment is important for them.


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