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Move job before mortgage draw down?

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  • 25-07-2018 9:36pm
    #1
    blondiebrownie
    Registered Users Posts: 1 ✭


    I recently signed my mortgage documents with the solicitor. However, the house is a new build and building has just begun, so the earliest the house will be built is January. Is there anyone that has moved job in between approval and draw down and if the timeframe is more than 6 months, have the banks looked for recent documents from your employer? What are people's experiences? I am looking to move job sooner rather than later as I am on crap pay.


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    #2
    GingerLily
    Registered Users Posts: 4,767 ✭✭✭GingerLily


    blondiebrownie wrote: »
    I recently signed my mortgage documents with the solicitor. However, the house is a new build and building has just begun, so the earliest the house will be built is January. Is there anyone that has moved job in between approval and draw down and if the timeframe is more than 6 months, have the banks looked for recent documents from your employer? What are people's experiences? I am looking to move job sooner rather than later as I am on crap pay.

    Talk to your lender, not all banks have the same policy.


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    #3
    MSVforever
    Registered Users Posts: 590 ✭✭✭MSVforever


    blondiebrownie wrote: »
    I recently signed my mortgage documents with the solicitor. However, the house is a new build and building has just begun, so the earliest the house will be built is January. Is there anyone that has moved job in between approval and draw down and if the timeframe is more than 6 months, have the banks looked for recent documents from your employer? What are people's experiences? I am looking to move job sooner rather than later as I am on crap pay.

    We are in a similar situation. Our house was meant to be completed in September but there were issues on the building site. The revised completion date is December now.
    As a result we have to apply for a mortgage offer extension. The bank wants new payslips, salary certs and current / saving account statements.

    If I were you I would not change the job before drawdown as the bank might not extend your mortgage offer letter (they're
    only valid for 6 months).


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    #4
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    I was talking to an EA a while back. He had a house sale agreed. The buyer moved jobs before draw down.
    Because he was on probation, the bank pulled the mortgage


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    #5
    BBMcQ
    Registered Users Posts: 1,320 ✭✭✭BBMcQ


    If you changed jobs during the mortgage approval period, then you can get under the radar. Little to no chance of pulling this off if you need an extension. If I were you I would just wait until drawdown to change jobs.


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    #6
    Interested Observer
    Registered Users Posts: 13,051 ✭✭✭✭Interested Observer


    You will almost certainly not be allowed draw down while on probation. I changed job myself recently and we've been told we can't draw down until after probation. Probably set us back a couple of months but the job is worth it.


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