Changing job and buying a house

Deco99 · 17-02-2015 5:19pm #1

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?

L1011 · 17-02-2015 5:22pm

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

colm_c · 17-02-2015 5:27pm

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.

Deco99 · 17-02-2015 5:36pm

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

jon1981 · 17-02-2015 5:45pm

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.

um7y1h83ge06nx · 17-02-2015 6:33pm

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.

Changing job and buying a house

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