Changing jobs and mortgage

[camlin90]

Hi

I was approved for a mortgage in April for an apartment I bought a couple of months earlier. Apartment was supposed to be complete in August but has been dragging on with no sign of an opportunity to snag yet. From snagging it's likely to be another month before completion.

In the meantime I have been offered a new job which is a significant advancement on my current position. I either turn down this job and wait for the apartment, or take the job and hope that either the apartment doesn't complete until late spring when I'm out of probation, or I can find a lender who'll accommodate my situation.

Anyone have recent experience of changing jobs and how this affected drawing down the mortgage? Are mortgage brokers likely to be able to assist in this situation? Do banks take into account your work history, full time employment etc or is it just any excuse not to give the loan?

Thanks!

 

[Betsygirl]

Hi, I think that you could face problems getting your mortgage if you change jobs. A friend of mine was head hunted a while ago and was in the process of getting a mortgage which was refused after she moved jobs, even though her new company confirmed that they had head hunted her and her job was secure.

 

[NorfBank]

The best thing to do is speak to your lender and explain the situation. They will either agree to you moving jobs or advise you to stay where you are.

It will depend on the merits of your application as a whole, if it's very strong and you are staying in the same line of work then there shouldn't be a problem. If you are borderline then the lender may advise you to stay where you are.

[broken link removed]

 

[corkmike]

I had this problem a couple of months ago and i was told by the 2 main mortgage lenders that even though the job was secure and better that they could not give me a mortgage unless i was off my probationary period.
Regards
mike