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You are here: Home / Mortgages / Mortgage in a probationary period

by Payam Azadi

Mortgage in a probationary period

Mortgage in a probationary period

How to get a Mortgage in a probationary period on your first day of work including 3 & 6 months probationary

The rules around getting a Mortgage in a probationary period can be quite complex but rest assured we have helped many client successfully get a mortgage from some of the Uk’s Leading lenders with no additional rate loadings.

So you have a new job earning better money and can finally start looking at purchasing a new home but what about a Mortgage in a probationary period and finding the right lender to suit your current circumstances.

Being turned down for a mortgage because you are inside a probationary period is hard to take but not uncommon. The reality is many mortgage Underwriters rightly or wrongly take extra comfort from the position being permanent.

Some Mortgage Lenders will allow you to begin the mortgage process but will hold back the mortgage funds until the probationary period has completed; and others won’t even accept an Mortgage in a probationary period application.

To avoid confrontation on this contentious point individual Mortgage Lenders many impose a minimum period of say: 3 months, 6 months or 12 months with your current employer for all applicants probation or otherwise.

As you have taken in an interest in our website and the subject of getting a Mortgage in a probationary period no doubt you will have seen at Niche Advice we bring the best of breed Mortgage Lenders to suit our clients’ needs. Not only can provide mortgages for applicants in the midst of their probation, in some instances we have helped applicants obtain mortgages when they have yet to work a day in the position on the strength of their job offer letter.

Click to view Mortgage in a probationary period Product & Rates

Niche Advice specialises in helping clients who have been turned down for a mortgage. To find out more on how we can help please complete the Contact Form on this website or call T: 020 7993 2044. We are so confident in our ability we will not charge you a penny until your mortgage has been fully approved and the funds are released.

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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