Getting a mortgage in a New Job

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Article created by Christian Duncan, Director – Mortgage and Protection Adviser

Last updated 2nd February 2025

As the cost of living in the UK continues to increase, it’s not uncommon for clients to seek new job opportunities while applying for a mortgage. In some cases, they may have a job offer but feel uncertain about how it could impact their application. This guide aims to address most of your questions. If you still need further clarification, please submit a contact request using the form above.

Can I get a mortgage if I have just started a new job?

Certainly! If you’re embarking on a new job, obtaining a mortgage is within reach, especially when applying with the appropriate lenders. It may come as a pleasant surprise that you can initiate the mortgage application process even before commencing your new job or receiving your first payslip.

Can I get a mortgage if I have a job offer letter?

Certainly! If you’ve recently interviewed for a new company and secured a position, you can explore mortgage options. Lenders typically request a copy of the job offer or proposed employment contract, along with additional details about your employment history and industry experience.

Can I get a mortgage if I have not yet started a new job?

Absolutely! You can secure a mortgage based on a pending new job that you haven’t yet started. You will need evidence of the proposed new job with either a job offer letter or signed contract of employment; This must be scheduled to start within the next 3 months.

When can I apply for a mortgage after starting a new job?

Immediately, you can actually apply for a mortgage even if you haven’t started the new job but you will be expected to supply some additional documentation to support your application. Your new job must be scheduled to start within the next 3 months but this kind of application is perfectly acceptable and very common.

What deposit is needed for a new job mortgage?

Like the majority of mortgages having only a 5% deposit is feasible. The bigger the deposit you have the more attractive you will be to a lender but 5% deposit mortgages for applicants who have started or are about to start a new job within the next 3 months are perfectly acceptable and something we have had plenty of success securing for our clients.

How much can I borrow with a new job mortgage?

How much you can borrow is subjective and will depend on your circumstances. There are lenders that will give up to 6x income for a first time buyer who’s looking to secure a mortgage whilst starting or about to start a new job.

How many months do I need to be in my job to get a mortgage?

Zero! It’s possible to secure a mortgage before you step foot through the front door of your new place of work. Lenders are likely to want to understand what experience you have within your industry and and brief explanation behind the change in job but we can prepare this on your behalf with your input to give you the strongest chance of being accepted for a mortgage.

Can I get a mortgage with a probation period?

The answer to this is a resounding yes! Whilst not all lenders are comfortable with this scenario there are a huge proportion that are. Working with a mortgage broker is likely to increase your chances of approval.

Are interest rates higher for a new job mortgage?

No, there are mainstream lenders that hold some of the most competitive interest rates on the mortgage markets that are happy to offer mortgages to individuals that are looking to secure a mortgage. This doesn’t matter if you’re a home mover, first time buyer or somebody simply looking to secure a new deal if your existing mortgage is about to expire.

Is it a good idea getting a mortgage when moving jobs?

It doesn’t really matter. There are more convenient and less stressful times in your life to start looking for a mortgage but there are plenty of lenders that are happy to produce a legally binding mortgage offer whilst you are in the process of moving jobs. It’s important that your mortgage broker understands your intentions before submitting a mortgage application to any lender.

If I move to a different part of the country can I still get a new job mortgage?

Yes, absolutely. Lenders are familiar with this kind of arrangement. It’s a little bit of a chicken and egg situation.

Mortgage lenders understand that moving home can often come hand in hand with applying for a new mortgage and pursuing your own goals, dreams and aspirations. As a mortgage broker it’s my job to ensure your case is packaged correctly and the relevant information submitted to the lender’s underwriter to ensure your intentions to relocate are crystal clear.

All lenders will look at how viable your new job is going to be. For example if you’re looking to buy a home in Manchester but your office is based in London. They will want to understand how feasible this is going to be and look at the costs in carrying out the commute.

Similarly if you’re living in Manchester working from home for a company based in London with little to no travelling this is feasible and deemed satisfactory. It’s important to note a lender might want written proof from your employer to evidence this. This would usually be clarified by requesting a letter headed document from your employer detailing your work arrangements.

Can a pay rise be used for a new mortgage?

Yes, if you’re currently employed and have a pending pay rise or have been awarded a pay rise, lenders will allow us to use this to increase your affordability; This must be due to take effect within the next 3 months. Anything further away and unfortunately it isn’t something a lender would consider.

How much does new job mortgage advice cost?

When applying for any mortgage it’s important you get the correct advice first time.

New job mortgages can be a little more complex and often require additional checks during underwriting. Here at the Manchester Mortgage Centre we are familiar with the lenders who look at these kinds of applications favourably. Our costs for this type of mortgage application are typically £499 split into two parts; £99 at the Decision in principle stage, followed by £400 on submission of your full application.

Will I be approved for a new job mortgage?

Here at the Manchester Mortgage Centre we are so confident in our ability to secure you a mortgage that we will give you your money back in full if we are unsuccessful. A little like the no win no fee system commonly seen with solicitors. We won’t take your case on if we feel your chances of success are slim.

New Job Mortgage Frequently Asked Questions

What documents will I need to supply?

When applying for a new job mortgage you can be expected to supply the following documents

3 Months Bank Statements
Most recent 3 Months Payslips (From current or previous employment)
Photo ID such as Passport
Address ID such as Driving Licence
A signed job offer letter or contract that is dated within the next 3 months.

What if I was an agency worker prior to this?

Being an agency worker, perhaps on a zero hour contract before applying for a mortgage with a new job offer is very popular. Often agency workers enjoy the flexibility of working on an agency before being offered a full time position within a firm. This is probably one of the most popular kinds of new job mortgage applications that we see.

Can I apply for the mortgage with somebody else?

Absolutely, although your employment circumstances aren’t straight forward this wont stop you applying for a mortgage with somebody else, Perhaps a friend, family member or partner : Although lenders won’t tell you this sometimes having multiple incomes coming into a household can fill an underwriter with confidence and help reach a positive outcome at the full mortgage application stage.

What if I have bad credit?

Having bad credit can often limit the amount of lenders available to an application but in most cases doesn’t stop somebody from securing a mortgage. Applying for a new job mortgage and having bad credit is very much possible but this will depend on the contents of your credit profile. If you complete the form above we can discuss the contents of your credit profile before you embark on your mortgage journey.

Do I need to tell the mortgage company if I have got a new job?

If you’ve applied for a mortgage and are awaiting a decision or have received your offer and your circumstances change, it’s important you keep your mortgage broker and or lender in the loop. Depending on the lender it might not impact your mortgage offer but being transparent with mortgage lenders is paramount.

Is it hard to get a mortgage with a new job?

Knowing which lenders are comfortable with this scenario is only half of the battle. Understanding how the rest of your circumstances fit with each lender is the other half. I would always advise using the services of a mortgage broker for this kind of application. Moving home and starting a new job are two of the most stressful but exciting things you are likely to take part in. Allow us to take the stress away from your journey and improve your chances of success.

Will a gap in my employment stop me getting a mortgage?

No, having small gaps in your employment wont stop you getting a mortgage but you can expect a mortgage lender to ask questions about why you had a gap. Maintaining continuous employment will get your brownie points with a lender but don’t worry if you haven’t. Discuss this with your broker.