How long do you have to be in employment before applying for a mortgage?

I'm just about to leave university and I'd like to get a mortgage as soon as possible.





I have full time employment lined up with the government and there is no probationary period attached to the job.

How long do you have to be in employment before applying for a mortgage?
It really depends on the lender at the minute and the type of mortgage you go for, the basic minimum is a year, most would prefer 2 years but as you have been in full time education they will take that into account, if you were self employed or went for a self cert mortgage (you would pay a higher rate of interest) then as a rule they will accept a minimum of 6 months. If not self certing then you will need to be able to prove your income by either wage slips or bank statements to they know you can afford to make the payments. They may also go for a reference from your employer to confirm your annual income.
Reply:Start comparing offers now and get one lined up asap.The crunch is biting hard so use a good comparison site like wwwmoneysavingexpert.com to get the best deal. You can use your acceptance letter as proof of future earning. Good luck, it's tough out there just now for first time buyers.
Reply:Hello, From my knowledge (i just bought my home a year ago) it really depends on your lender- but rule of thumb in today's market is usually 6 months to 1 year. Some may ask for continuous employment proof for 2 years or 2 years tax returns.
Reply:I applied for my first mortgage 3mths after getting my job and it was accepted. With the whole credit crunch thing going on at the minute and lenders turning down applicants everywhere, then things might have changed... dunno though.





Good luck!
Reply:3-6 months wage slips are normally asked for but also depends if you have a good deposit.