Is Getting a Mortgage With a New Job Possible?

Two people having a mortgage meeting

Getting a mortgage with a new job can be tricky to navigate. There is a lot of information out there, and a great deal of mortgage lenders, so people asking ‘’Can I get a mortgage with a new job?’’ are often overwhelmed. Here at Stuart Brown, we are committed to making the process of applying for a mortgage that bit easier. Today we are going to outline and summarise the process of applying for a mortgage with a new job: asking, ultimately, is it possible?

Can I Get a Mortgage With a New Job?

Those looking to get on the housing market will often need to complete a mortgage application. There are a lot of mortgage lenders out there that offer seemingly very different things. Applying for a mortgage is a big step, and a lender will usually require some information from you to aid the application. Mortgage lenders often need an extensive breakdown of your employment history and current status, as well as your financial situation. To a lender, this provides an insight into you and whether you are, ultimately, reliable. Afterall, they are lending you a great deal of money. 

There are other considerations a lender will take into account when processing a mortgage application. As stated, your employment history as well as your current employment status will be reviewed by your lender. At Stuart Brown, our advisors are often approached by individuals who have just started a new job asking: ‘’Is getting a mortgage with a new job possible?’’. 

If you have just started a job, sometimes it can be difficult to get a mortgage. A mortgage application is about gauging reliability, so mortgage lenders often want to see that the applicant has been in continuous employment for at least a few years. If you have just started your new job, this can be disheartening. Getting a mortgage with a new job is not impossible, however. Every broker is different, and their requirements for applications will vary. Some may consider your application after 6 months in your job, whilst others may only require you to have been in your job for 3 months.

In most cases, it is best to settle into your job for a while before you consider a mortgage. You may be able to find a lender who has no minimum employment requirement, but you may be subject to further scrutiny across the board.

Mortgages With Stuart Brown

For those wondering ‘’can i get a mortgage with a new job?’’, the answer is not straightforward. Different mortgage lenders have different requirements. Whilst some will not entertain an application by a candidate with a new job, some may be more lenient. If you have started a new job and wish to submit a mortgage application or assess your options, we encourage you to speak to an expert. Here at Stuart Brown, we have a wealth of experience in the industry and would be happy to help you assess your options. For more information, contact us today.

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