Starting a new job or being in a probation period can make people worry that they need to delay buying a home. In reality, some UK mortgage lenders can consider applicants who have only just started a new permanent job, are still in probation, or are due to start shortly.
The important point is that lender criteria vary. Your employment contract, start date, previous work history, income, deposit, credit profile and overall affordability all matter.
Can I get a mortgage if I have just started a new job?
Potentially, yes. Some lenders will consider applicants who have been in a new role for only a short period, provided the employment is permanent and the income can be evidenced.
Nationwide currently says it may consider applicants who have been in a new job for one month or less, using a recent payslip, signed open-ended employment contract or employer appointment letter. It also says it may consider applicants who are due to start a new job with a different employer within three months of the mortgage application, subject to acceptable evidence.
Halifax also publishes criteria allowing income from a new permanent job to be used where the new role has been accepted and appropriate supporting evidence is available.
What if I am still in my probation period?
Being in probation does not automatically rule out a mortgage.
Nationwide currently states that it will consider applicants working in a probation period. Halifax also allows income to be used where the probationary period forms part of a permanent employment contract.
The distinction is important: a permanent job with a probation period can be treated differently from a temporary arrangement where the employer may decide later whether to offer a permanent position.
What evidence might a lender ask for?
Depending on the lender and how recently the job started, you may be asked for:
- a signed employment contract;
- an employer letter confirming the role, salary and start date;
- your latest payslip, if available;
- recent bank statements;
- details of your previous employment and career history;
- evidence of your deposit; and
- details of loans, credit cards and other regular commitments.
MoneyHelper explains that lenders assess affordability by looking at household income alongside regular spending and existing debts, so employment status is only one part of the decision.
Does my previous employment history matter?
It can. A move into a similar role or profession may be easier for a lender to understand than a complete career change, particularly where the new salary is significantly higher than before.
Some lenders will consider whether the new role is consistent with your experience and wider employment history when assessing whether the income looks sustainable.
What if I have accepted a job but have not started yet?
This may still be workable with some lenders.
As noted above, Nationwide currently says it can consider applicants who are due to start a new job within three months of applying, provided suitable evidence such as a signed employment contract or appointment letter is available.
Halifax also publishes criteria that allow future income from an accepted new job to be included where it can be properly evidenced.
This does not mean every lender will take the same approach, and the full circumstances still need to pass affordability and credit assessment.
Will a larger deposit help?
A stronger deposit can improve the overall strength of the application and may widen the lender options, but it does not replace the need for acceptable employment evidence and affordability.
The lender still needs to be satisfied that the income is sustainable and that the mortgage repayments are affordable.
Should I wait until I have passed probation?
Not necessarily.
Waiting may make the case simpler with some lenders, but if you are otherwise ready to buy there can be value in checking the market before delaying unnecessarily. The right answer depends on your employment contract, start date, income, deposit and the lenders whose criteria fit your circumstances.
Avoid making assumptions based on one lender
Employment criteria vary considerably. One lender may be comfortable with a new permanent role or probation period while another may want a longer employment history.
That means a decline from one lender does not necessarily mean you cannot get a mortgage. It is usually better to understand the criteria before making several speculative applications.
How TLA Finance can help
TLA Finance can review mortgage applications involving a recent job change, probation period or future employment start date. We can look at your contract, income, previous employment history, deposit, credit profile and affordability before considering suitable lender options.
Visit our mortgage services page or contact TLA Finance to discuss your circumstances.
Important: Mortgage availability and lender criteria can change. Your home may be repossessed if you do not keep up repayments on your mortgage. This article is general information and is not a personal mortgage recommendation.
