Getting A Mortgage In A New Job
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Getting A Mortgage In A New Job
Chris Duncan explains the process for getting a mortgage in a new job.
Can I get a mortgage if I have just started a new job?
Yes, absolutely. Lenders will look at a job contract if you’ve not had any payslips or spent much time in this new job, so you can still secure a mortgage in this scenario.
Can I get a mortgage if I have a job offer letter?
Yes, and that’s quite a common question. People obviously change jobs all the time, especially as we approach the new year.
Lenders will use a job offer letter to calculate your affordability, and if you’re going into a new job where you’re going to be slightly better paid, it can actually be beneficial for you.
Can I get a mortgage if I have not yet started a new job?
Yes, you don’t need to have started the job yet. Most lenders do want you to start within the next three months, though.
There are some key details we’d expect to see on the documentation to support your application, including the name of the employer, the start date, the job role and, most importantly, a signature from whoever’s issued the contract.
It could just be the HR department. But the date of the offer and when the job is actually going to start is what lenders are looking at.
When can I apply for a mortgage after starting a new job?
Effectively, you could start your job on Monday morning and apply for your new mortgage the same day. You don’t need to have been there for a period of time.
What deposit is needed for a mortgage if I have a new job?
It doesn’t make a difference. Minimum deposits vary depending on lenders’ criteria. At the time of recording this in November 2025, there are schemes where you don’t need a deposit at all – there are 100% mortgages out there.
It’s more common, however, for people to come to us with a 5% deposit, which may be gifted or from savings.
Just because you’ve just started a new job, the deposit amount doesn’t change. But for applicants with new job contracts, the number of lenders decreases. Sometimes that can dictate the deposit, but a 5% deposit would be fine, normally.
How much can I borrow for a mortgage with a new job?
Affordability is subjective to the client. Lots of schemes will lend 5.5 or six times your income, even for somebody with a new job contract. If you’re also a first-time buyer or a home mover, there are plenty of schemes to stretch affordability if we need to.
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Whether it’s your first time, moving home, investing or just looking for a better rate we would love to hear from you.
How many months do I need to be in a job to get a mortgage?
None, effectively – you can do it on day one. However, once you’ve been there for a month and you’ve got that first payslip, that opens up more lenders.
I sit down with my clients and explain this. We’ll look at interest rates and who’s available. If you started a job two weeks ago, for example, and one lender has a much more attractive interest rate but would need to see that first payslip, we’ll wait two weeks.
We’ll get you ready and run a Decision in Principle so you’re good to go. If two weeks can make a big difference to interest rates and ultimately how much you end up paying back, it’s worth waiting.
Can I get a mortgage with a probation period?
You can. Probation periods are absolutely fine with a lot of lenders. Ultimately, they’ll look at your experience within that kind of role. A lender wouldn’t be happy if you went from being a cleaner to a gas engineer with no experience. They’re looking at your ability to maintain an income in that industry.
If you’ve been a gas engineer for the past 10 years, you’ve just moved jobs and you’ve now got a probation period, that’s absolutely fine.
Can a pay rise be used for a new mortgage?
Yes, you can use your pay rise for your new mortgage or remortgage. We don’t even need to see that on a payslip. All we need is something in writing from your employer to confirm what you earn now and what you will be earning once the pay rise kicks in.
Importantly, we need confirmation of the date that starts. Most lenders want the date to be within the next three months.
How can a mortgage broker help here? Anything else you’d like to add?
We’ve covered this on previous episodes, but when there are complex circumstances or quirks to a case, it’s so important to get everything together and well organised, to make your application the best it can be for a lender.
By sitting down with a broker, you’re increasing your chances. I know which lenders will or won’t like your application. I’ll also know how they’d like that to be presented to them.
Talking to somebody with experience in these applications is really important. It’s also about being honest with the broker you use.
Key Takeaways:
- Mortgages are possible with a new job or just a job offer; lenders use the contract to assess affordability.
- You can apply for a mortgage on the first day of a new job. However, waiting for your first payslip (usually after a month) can open up more lender options and potentially better interest rates.
- The deposit amount is typically unaffected by having a new job, with a 5% deposit often being sufficient. Schemes for 100% mortgages are also available.
- Getting a mortgage while on probation is generally fine, provided you have relevant experience in the industry.
- A mortgage broker is crucial for complex cases, knowing which lenders to approach and how to present your application.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
Why Oval Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors
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?
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.
Speak To An Expert
Whether it’s your first time, moving home, investing or just looking for a better rate we would love to hear from you.
Can I get a mortgage with a probation period?
Are interest rates higher for a new job mortgage?
Is it a good idea getting a mortgage when moving jobs?
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?
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 Oval Finance 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?
New Job Mortgage FAQs
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.
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.
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.
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.
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.
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.
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.
Why Oval Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors