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Probationary Period Mortgages

Can I get a mortgage while in the probation period of a new job? Get the right advice here.

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By Pete Mugleston   Mortgage Advisor

Last updated: 16th June 2019 *

As enquiries about options for those who want to get a mortgage during their probationary period at work continues to increase, we are keen to make sure that all get the right advice and information to ensure they don’t lose out on purchasing a property.

Using our comprehensive guide, we aim to answer all of the key questions most have about mortgage employment requirements and probation periods - you’ll find the following topics covered below...

Using Online Mortgage Advisors free services you will be able to get advice and support from experts, who specialise in helping people to get the best from their probation mortgage. We always welcome enquiries from all - regardless of circumstance - and our site is designed to create easy access to accurate information and resources.

To get the best from our platform you can make an enquiry, or use the live chat available on our site or call us on 0800 304 7880.

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Can I get a mortgage whilst still in my probationary period?

Yes, you can! While many may have been informed that it’s near impossible to get a mortgage while on probation - especially if they have used one of many misleading websites - there are actually several ways to avoid letting your probation period affect your mortgage options.

Read on to find out what they are, or better yet, make an enquiry and we’ll have one of the expert advisors we work with go over them with you.

So how do I go about getting a mortgage while during probationary period?

Making an enquiry with a whole-of-market broker, like the ones we work with is a good place to start, as this will ensure that you’ll get the right advice.

But first, there are a few things to consider that may affect your chances of success.

It’s common for mortgage lenders to request at least 12 months’ track record of working in the same industry. This is to help convince them that, if for any reason you do not pass your probationary period, you’re sufficiently experienced in the field to get another job quickly. There are a select few lenders who may not even require this

This rule of considering length of employment before lending even applies to smaller ‘loans’ such as bank overdrafts.

Why is it more difficult?

Mortgage lenders, rightly or not, consider those in probation more of a risk. In their view they may have to consider that you may not pass probation to become permanent in the role and also acknowledge newer staff are more likely to get made redundant if the company faces financial issues.

Those in new jobs may not be able to provide evidence to satisfy more tailored criteria - depending on lender - such as proving income via payslips that cover a certain amount of time.

As requirements change often, it can be difficult to find what options are available to you without the right support. If you need a mortgage in probation period, one of the best ways to start is to use our online services and make an enquiry to speak to one of the expert advisors we work with about this.

Mortgage applications during probation period

In some circumstances lenders take a more flexible approach to mortgages and job probation periods, noting that having a contract should be enough to show that your employment is permanent.

Things lenders will also consider though is your contract type and even the wording of it too.  It’s worth noting that the majority will reach out to your employer to confirm the length of your work probation and confirmation of your job offer as a part of evaluating your application.

This applies even if you have just started the role and will be a key part of getting your application approved. To learn more about how starting a new job can make a difference when applying, we have a handy guide that explains more which you can find here.

It’s also worth noting that most underwriters will not consider any variable pay elements above and beyond your basic pay, such as commission, if you’re still in your probationary period.

Will the type of job I do make a difference?

Applications made in probation are often considered differently depending on the job you are in e.g. applications from public sector workers such as teachers and doctors for example, and/or industries where it is common to change contracts - may have a better chance of a successful application.

As the strength of your application will be circumstance based, get in touch so we can connect you with one of the many expert brokers we work with, who will guide you step by step through the process. Jump ahead to the next section to find out more...

How probation periods in different industries can affect getting a mortgage

We previously touched on how your job and industry can change how lenders view granting your mortgage application, but there’s more to it than you may first think.

If you work in the public sector for example, you could also be eligible for key worker mortgages, which aim to offer better rates for those in certain fields like health, education, public safety and more.

To be considered a key worker typically you will have to work in/for the following organisations:

  • NHS
  • Police service
  • Local Authority Teachers
  • Fire Brigade
  • HM Prison and Probation Service
  • Ambulance Service
  • Public Transport

It must be noted that these types of mortgages are unfortunately becoming rare, especially as most government funded key worker mortgage schemes are no longer available. Banks are also increasingly less keen to adopt these type of mortgages into the ranges and they differ in requirements and criteria to get one if they do.  

That’s not to say that they don’t exist and can be a great way to take your first step onto the property ladder, especially when aiming to increase your chances of mortgage approval during job probation.

However, if you’re not in the public sector and are in a probation period while applying, don’t worry - all is far from lost if you get the right direction. Save yourself the hassle of trying to convince lenders to be more flexible and let us help by taking advantage of our free broker matching services.

How does my probation period length affect my mortgage options?

Despite what many may have been told, probation period length does not have a huge affect on your options when trying to get a mortgage - but that’s not to say that lenders won’t take it into consideration at all.

For example, some lenders could approve your loan but choose to pause of releasing the funds to you until your probation period is completed. In their view, this decreases your risk of not being made permanent but this could be an issue if your probation is longer than you are willing to wait to finance purchasing a property.

Not all lenders take this approach however - and with the average worker having a 6 month probation period in new jobs - some offer mortgages regardless of length or how far into your probation you are at the time of application.

This is because the majority will look at your employment history as a way of determining if they will allow you to borrow. If you have been in a similar role previously or can demonstrate that you have a record of steady income through your past jobs, you’re more likely to satisfy their requirements for a mortgage while on job probation.

As we will explore in more detail next, lender’s stance on granting a mortgage in probationary period are varied, so for most it will be essential to get assistance from specialist brokers.

There are many ways to contact us to use our free services and we can get you chatting to one of the many brokers we work with that can help you find the right probationary period mortgage for you.

Mortgage lenders and probation periods

Many hunting for a mortgage whilst on probation will be made aware that you are more likely to pay higher rates but that is of course not always the case, as this depends on lender discretion and the strength of your application.  

Here are a few examples of requirements from major mortgage lenders:

Nationwide mortgage probationary period

Nationwide are open to considering applications from people in probationary period at work but they do not offer mortgages in the following circumstances if applicable during this time:

You are in casual employment: Ad hoc, zero hours contract

Halifax mortgage probationary period

Halifax are also another lender that consider probation period applications and take a similar stance to other providers in noting that the probation period must be a part of a permanent contract.

However, if the contract in question is purely probationary and includes an option for the employer to terminate the contract then they will not offer a mortgage or consider applications in these cases.

Santander mortgage probationary period

To be in with a chance of getting a mortgage while on a probationary period you’d need to have worked and/or will be working continuously for six months - but this doesn’t have to be with the same employer. Without this they are less likely to approve an application. They do allow flexibility in other circumstances that apply to job probation applicants.

As you can see, some of the mainstream lenders attach caveats if you’re applying for a mortgage during a probationary period, so you’re running the risk of being turned down if you approach the wrong one for your needs and circumstances.

With this in mind, the best way to kick off your application is by making an enquiry to speak a whole-of-market broker who can pair you with the right lender first time.

Mortgages and probationary periods: FAQ

Below you’ll find the answers to the questions we hear most frequently about mortgages and probationary periods...

Can I get a mortgage as a probationary teacher?

Yes, in fact you could also be eligible for key worker mortgages, which often offer better rates for those in certain fields like health, education - and of course teaching.

There are also other benefits that come with getting a mortgage in this profession, which you can find out more about here.

Can I get a mortgage working for the police while on job probation?

You can get a mortgage while on probation for a role in the police force and they too are eligible for key worker mortgages, as they work in public sector.

Can I get a mortgage in Ireland while on work probation?

You will be able to get a mortgage in this circumstance in Ireland too - just like in England, Wales and Scotland - banks/lenders will look at individual cases and decide if you are suitable upon application.

Fewer lenders operate in Scotland and Ireland, and the ones that do cover these countries tend to have postcode restrictions, which means the best deals are more difficult to come by - so seeking specialist advice from a whole-of-market broker is recommended.

Can you remortgage during probation period at work?

Depending on your lender it is possible to do so but on top of the restrictions that come with getting mortgages while in probation period, this may also depend on other factors, such as a change in income. A decrease for example could affect how much they are willing to let you borrow.

Don’t forget the experts we work with will help match you with a lender that suits your specific needs and circumstances. We charge zero fees for using our services and it has no impact on your credit, so don’t delay getting in touch - we’re here to help.

Speak to a whole-of-market broker about mortgages and overdrafts

If you have questions and want to speak to an expert for the right advice, call Online Mortgage Advisor today on 0800 304 7880 or make an enquiry here.

Then sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances.  – We don’t charge a fee and there’s absolutely no obligation or marks on your credit rating.

Updated: 16th June 2019
OnlineMortgageAdvisor 2019 ©

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The info on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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