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Mortgages: Length of time with employer

  • 11-01-2016 1:42pm
    #1
    AtomicHorror
    Registered Users, Registered Users 2 Posts: 5,888 ✭✭✭


    I'm with my current employer for nearly 4 years and currently saving a deposit for a mortgage- I am permanent and full time. I expect to make a joint application with my wife later this year. She is employed part-time on a long-term (multi-year) renewable contract. Our incomes are about equal in value.

    I was previously told by a third-party mortgage advisor that many lenders will not consider income from people employed less than 12 months at their current employer. This was a couple of years ago, so I wonder if this is still the case (or was it ever?). 

    I may have a new job offer soon, and my concern is that if I change jobs in the coming months, we might have to wait an additional 12 months before making our application. I would need to consider the trade-off in salary increase versus possible impact on a mortgage in my decision to accept or reject.

    Similarly, if we get approval and I subsequently change jobs, will this affect our ability to draw down?


Comments

  • #2
    Bank of Ireland: Janet
    Closed Accounts Posts: 314 ✭✭Bank of Ireland: Janet


    Hi AtomicHorror,

    Thanks for your post.

    Due to the nature of your query, it would be best to discuss this with a Mortgage Adviser.

    If you would like us to arrange a call back with one of our qualified mortgage advisers, please send a PM with your name, phone number and the first line of your address and we will arrange this for you.

    Thanks

    Janette


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