New Job Mortgage

New Job Mortgage: Can You Get a Mortgage with a New Job?

Whether your relocating, advancing your career, or simply starting fresh, a new job mortgage can help you secure your dream home.
Written By: James Blackler
On Feb 3, 2025

Changing jobs is a natural part of life. Whether relocating, advancing your career, or simply starting fresh, a new job mortgage can help you secure your dream home. But how does starting a new job impact your ability to get a mortgage? Let’s break it down.

 

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

Yes, it’s possible if you apply with the right lenders. Some mortgage providers will allow you to secure a mortgage before you even start your new job as long as you have a permanent contract.

What About Fixed-Term Contracts?

Securing a mortgage can be more challenging but not impossible if you’re on a fixed-term contract. Certain professions, such as trainee solicitors, frequently start on fixed-term contracts, and some lenders accommodate these situations.

Many lenders require at least one payslip or a few months of employment history. However, there are specialist lenders who accept applicants with a new job, even before receiving their first paycheck.

 

Is It Possible to Get a Mortgage If I’ve Just Changed Jobs?

Absolutely. You may not need three months of payslips if you have a signed employment contract. Some lenders will approve your mortgage application based solely on your contract, even if you are still in your probation period.

What If I’m on Probation?

Some lenders don’t mind if you’re on probation, while others require you to pass your probation period first. Working with a mortgage broker can help you find the right lender if you’re in this situation.

 

Can I Get a Mortgage with a Job Offer Letter?

Yes, you can! Some banks and building societies will approve a mortgage with just a job offer letter, provided your job starts within the next three to six months.

What Documents Do I Need?

To secure a mortgage with a job offer letter, you’ll typically need:

  • A signed contract showing your salary and start date
  • An offer letter from your employer
  • Proof of employment, such as a letter from HR confirming your role

If you’re moving into a permanent position, your chances of approval increase significantly.

 

What If It’s My First Job?

If this is your first job, there are lenders who will still consider your application. However, some may require a larger deposit, especially if you have a limited credit history. Others may ask for proof of continuous employment for at least six months.

Does My Occupation or Industry Matter?

Generally, no. The best new job mortgage lenders will consider applicants from any industry as long as they are permanently employed. However, some lenders make exceptions for newly qualified professionals, such as teachers and doctors.

 

When Can I Apply for a New Job Mortgage?

Before You Even Start!

If you have a signed contract for a permanent role, you can apply for a mortgage up to three months before your job starts. Some lenders may even allow you to complete your mortgage before your first payday.

 

What Deposit Is Needed for a New Job Mortgage?

New job mortgages are available with deposits as low as 5%. However, if you have a limited credit history or are on a fixed-term contract then a larger deposit may improve your chances of approval and secure better mortgage rates.

 

How Much Can I Borrow for a New Job Mortgage?

Lenders calculate how much you can borrow based on your salary. Typically, you can borrow up to 4.5 times your annual income. Some lenders may offer 5 times your income if you earn over £60,000 per year.

A lender may consider offering 6 times your salary for first-time buyers, provided you meet specific income and deposit requirements.

What Else Do Lenders Consider?

In addition to your salary, lenders will assess your financial commitments, such as:

  • Credit card debt
  • Car finance
  • Personal loans

The lower your existing financial obligations, the more you can borrow.

 

Are Interest Rates Higher for New Job Mortgages?

No, not necessarily. Interest rates for applicants with a new job are generally competitive. However, finding the lowest-cost mortgage depends on factors beyond the interest rate, such as arrangement fees, valuation fees, and cashback offers. A mortgage broker can help compare options and find the most cost-effective deal.

 

Is It a Good Idea to Get a Mortgage When Starting a New Job?

It depends on your circumstances. For many, a new job provides financial stability, making homeownership possible. However, if your job situation is uncertain, waiting a few months before committing to a mortgage may be wise.

 

What If My New Job Requires Me to Relocate?

If your job requires a move, lenders will check that your new home is within a reasonable commuting distance. If your new role allows remote work, a letter confirming this from your employer may be required.

Lenders want to ensure that your mortgage repayments remain manageable and that you won’t need to rent additional accommodation closer to your workplace.

 

What Documents Are Needed for a New Job Mortgage?

For a standard mortgage application, lenders typically require:

  • A signed employment contract (showing start date and salary)
  • A job offer letter (if applicable)
  • Bank statements (to assess financial health)
  • Proof of deposit (such as savings or gifted deposits)
  • Proof of ID and address

 

Can a Pay Rise Be Used for a Mortgage Application?

Yes! If you have received a pay rise, lenders will often consider your new salary when assessing your mortgage application. This applies whether the pay rise is from your current employer or a new job.

 

How Much Does Mortgage Advice Cost?

New job mortgages can be straightforward when working with the right lender. However, choosing the wrong lender can lead to unnecessary complications.

Many mortgage brokers offer free advice, but some charge a fee. Typical costs for new job mortgage advice can range from £250 to £750, depending on the complexity of your case.

 

New Job Mortgage FAQs

How Long Do I Need to Be in a New Job to Get a Mortgage?

You can apply before your job even starts if you choose the right lender. Some allow applications up to three months before your start date.

Is It Harder to Get a Mortgage with a New Job?

Not necessarily. With the right lender and mortgage broker, the process can be just as smooth as if you had been in your job for years.

Do I Need Three Months’ Payslips for a Mortgage?

No. Some lenders accept mortgage applications based on a signed employment contract alone.

Can I Get a Mortgage with Less Than Three Months’ Employment?

Yes. Some lenders require a few months of employment history, but others will approve you with just one payslip or even before you start.

Do I Have to Be in a Job for Six Months to Get a Mortgage?

No. While some lenders require six months of continuous employment, others are happy to approve applicants who have just started a new role.

 

Final Thoughts

A new job doesn’t have to delay your dream of homeownership. With the right lender and expert advice, getting a mortgage with a new job is possible.

If you need guidance, working with an experienced mortgage broker can help you navigate the process smoothly and secure the best possible deal for your circumstances. With the right guidance and preparation, that’s where The Mortgage Blog can help turn your dreams into reality. Contact us on 0333 335 6595 or message us to explore your options and get personalised advice tailored to your unique situation.

Written by
James Blackler

James Blackler is the founder of The Mortgage Blog
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