New Job? Here’s What You Need to Know About Getting a Mortgage

Whether you are relocating, starting a new chapter in your career, or simply making a fresh start, changing jobs is a big life event. If you are also looking to buy a home, you might be wondering if a new job will get in the way of mortgage approval. The good news? It does not have to.

With the right guidance and lender, securing a mortgage with a new job on the horizon is absolutely possible.

Can I Get a Mortgage If I’ve Just Started a New Job?

Yes, you can. Some lenders are happy to consider applicants who have only just started a new job or are about to. If you have a permanent job offer and a signed contract, you may even be able to apply before your first day.

What If I’m on a Fixed-Term Contract?

It can be a bit trickier, but not impossible. Certain professions, such as trainee solicitors or supply teachers, often start on fixed-term contracts. Some lenders are familiar with this and will still consider your application, particularly if the role is common in your industry and your income is stable.

Do I Need to Wait Until I’ve Passed My Probation?

Not always. While some lenders prefer you to be through your probation period, others will accept applications as long as your contract is permanent and your income is confirmed. This is where working with a broker myself can really help - I know which lenders take a flexible approach.

Can I Apply with Just a Job Offer Letter?

Yes, in many cases you can. Some lenders are willing to offer a mortgage based on your job offer letter and signed contract, especially if your start date is within the next three months.

You will likely need:

• A signed employment contract stating your salary and start date

• A formal job offer letter

• A letter from HR confirming your position (if requested)

  
  

What If This Is My First Job?

Even if you are just entering the workforce, mortgage options are still available. You may need a larger deposit if you have little or no credit history, and some lenders will want to see at least six months of employment history. I can help you assess your eligibility and match you with the most suitable lender.

How Much Can I Borrow?

Typically, lenders will offer up to 4.5 times your annual salary. In some cases, if your income is over £60,000 or you are a first-time buyer with a solid financial profile, you may be eligible for 5 or even 6 times your income. Lenders will also review your monthly outgoings, including debts and other financial commitments, before confirming how much you can borrow.

Will My Deposit Need to Be Larger?

Not necessarily. You may be able to secure a mortgage with as little as 5% deposit. However, if you are on a fixed-term contract or have limited credit history, a bigger deposit could improve your chances and help you access better rates.

Are Interest Rates Higher with a New Job?

Not always. Interest rates are usually based on your overall financial profile, not just how long you’ve been in your job. I will compare mortgage products and lenders to find a competitive deal available, taking all costs into account - not just the interest rate.

What If I’ve Moved for Work?

If you have relocated for a new job, lenders will want to ensure the home you are buying is within a reasonable commuting distance. If you are working remotely, a letter from your employer confirming your remote work arrangement may be required.

What Documents Will I Need?

To apply for a mortgage with a new job, you will typically need:

• Your signed employment contract

• A job offer letter (if available)

• Recent bank statements

• Proof of deposit

• Proof of ID and address

Will a Pay Rise Help?

Absolutely. Whether your increase in salary is due to a new role or a promotion, lenders will generally base your borrowing on your confirmed new income.

Starting a new job does not mean putting your homeownership plans on hold. With the right advice and a clear understanding of your options, you can move forward with confidence.

I specialise in helping clients in exactly this position. Whether you are mid-career, just starting out, or changing direction, I can help to match you with a lender who understands your situation.

If you have questions or want to explore your mortgage options, please get in touch.