Mortgage Query

LKate95

Hi there,

My partner and I are first time buyers looking to purchase a new build that will be completed in Nov 2020. We had AIP but unfortunately have had a hiccup as my partner has moved to a better job with a higher salary and permanent contract but unfortunately is on probation until Aug 2020. I myself am working with the HSE as a nurse and have been for 2 years but due to moving within the Hse locations am on 12 month probation until Aug 2020 also, however have worked in this hospital before and only have to do probation as its HSE policy. We have just been issued with contracts for the new build and they are putting us under pressure to sign but when we sign we only have 4 weeks to get loan offer letter. We have a great savings history and will be paying a very large deposit on the house so dont need any exceptions but the probation is causing some issues. We need to get a loan offer issued with a clause stating it is reliant on us passing probation as we will not need to draw down funds until a few months after we have both passed probation. I was just wondering if anyone knows if this is possible or do we need to give up on our dream house? Besides the probation we have nothing going against us as we have no credit history and save loads monthly. Any help or advice would be much appreciated.

Giggles90

LKate95 wrote: »

Hi there,

My partner and I are first time buyers looking to purchase a new build that will be completed in Nov 2020. We had AIP but unfortunately have had a hiccup as my partner has moved to a better job with a higher salary and permanent contract but unfortunately is on probation until Aug 2020. I myself am working with the HSE as a nurse and have been for 2 years but due to moving within the Hse locations am on 12 month probation until Aug 2020 also, however have worked in this hospital before and only have to do probation as its HSE policy. We have just been issued with contracts for the new build and they are putting us under pressure to sign but when we sign we only have 4 weeks to get loan offer letter. We have a great savings history and will be paying a very large deposit on the house so dont need any exceptions but the probation is causing some issues. We need to get a loan offer issued with a clause stating it is reliant on us passing probation as we will not need to draw down funds until a few months after we have both passed probation. I was just wondering if anyone knows if this is possible or do we need to give up on our dream house? Besides the probation we have nothing going against us as we have no credit history and save loads monthly. Any help or advice would be much appreciated.

Go for it, just get a letter from your employer explaining probation, you could get it approved on the condition that by the time you draw down the mortgage, you will have completed your probation

phormium

It would not be uncommon to have a loan offer condition that probation must be completed before drawdown. It will just be an extra condition on to the usual ones of house/life insurance etc.