New Job Opportunity conundrum

Eireog007

Registered User
Messages
60
Hi guys

My wife and I are in the process of house hunting at the moment and I have recently been asked to come in to interview for a position in a different company for potentially a good bump in pay.

My concern is the obvious change in financial circumstances which would affect our approval in principle, so my question is at what stage in the process can you change jobs without the bank pulling the plug/wanting you to get beyond the first 6 months.
 

RedOnion

Frequent Poster
Messages
3,133
Ideally you need to be out of probation before you need full approval.
But, it really depends on your circumstances.
For example if you're a highly qualified professional, it doesn't make much difference with some banks.
 

Eireog007

Registered User
Messages
60
Ideally you need to be out of probation before you need full approval.
But, it really depends on your circumstances.
For example if you're a highly qualified professional, it doesn't make much difference with some banks.
We have the approval already I was just wondering how far into the purchase process we would need to be to then safely change job, ie sale agreed, agreements signed, keys handed over?
 

RedOnion

Frequent Poster
Messages
3,133
We have the approval already
I'm assuming you have approval in principle?

If you changed jobs now, any approval might be subject to completing probation prior to draw down of mortgage.

I've heard of people changing jobs, and new employer removing probationary period in similar circumstances. If an employer wants you, they might do this.

I've seen people in short term contracts, with no prospect of a permanent job, get mortgages.
 

Eireog007

Registered User
Messages
60
Sorry yeah I meant approval in principle, I suppose I’m getting ahead of myself slightly I don’t even know if the package would be enough to make me want to move jobs or if I even would get the job or not. I just like knowing the details before making a move, the removal of probation part is a good thing to know alright.
 

misemoi

Frequent Poster
Messages
116
How much of your salary is required for the new house? If you could get it on your wife's alone, then you being on probation shouldn't be an issue. Unless they count you as a dependent! I successfully switched while on a contract and again while on probation, you can increase the term to the max and get a variable rate if affordability is an issue. Then once you are finished probation look at switching or fixing as required.
 
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