Hello,
I would greatly appreciate any mortgage professionals who use these forums on the matter detailed below.
I am a first time buyer purchasing a new build property.
It is a joint application for the mortgage.
We have had a mortgage offer from NATIONWIDE and subsequently exchanged contracts with the developers. Completion is not until the first week of August.
In this last week I have been offered a new job which will start June 10th ( in between my exchange and completion). Without wishing to go into irrelevant details the job & company is a much better opportunity for me and the basic salary is £800 more per annum; not a massive difference but there's bonuses and a bigger picture & considerations to it all with career development etc.
Obviously with me having exchanged I am in a serious position where I do not want to take unnecessary risk with losing a mortgage offer via a job change and not wanting to mess up the mortage for my other half.
I queried Nationwide's new business department about the effect of a job change and they said if I hadn't have said anything they would never have known but now that I have mentioned it they have now noted on it on my case file....does that mean they will now make sure to check who my employers are before completion?
When I spoke to Nationwide again they stated it would be ok as long as the new job was the same salary or more. However, I wanted to double check opinion on here as the telephone department I spoke to, although not wishing to doubt their knowledge are not advisors and did seem pretty casual/calm about it....whether that's a good or bad thing!?
Maybe I am over analysing it but even if in principle the job change is ok with them because it is more money- could their be a detrimental knock on effects elsewhere with the application and ntheir crieteria, say with their scoring system i.e because I have not yet started I have no payslips as of yet so that loses points? By time completing hits I will have had at least 1 pay slip.
Would another credit score 3 weeks after that used for the original offer be detrimental?
Nationwide said they'd need a reference from new employer or contract.
Ultimately, I was wondering if anyone knew from your experience within the industry whether a job change at this stage would be detrimental to my mortgage offer in the particular case of NATIONWIDE mortgages. This especially important due to the implications of me exchanging.
Is it as simple as Nationwide are ok with job changes that have increased salary and that's the end of the matter if it is verified by my new employers?
As you can see I am a worrier so I thank you for your time on this matter.
I would greatly appreciate any mortgage professionals who use these forums on the matter detailed below.
I am a first time buyer purchasing a new build property.
It is a joint application for the mortgage.
We have had a mortgage offer from NATIONWIDE and subsequently exchanged contracts with the developers. Completion is not until the first week of August.
In this last week I have been offered a new job which will start June 10th ( in between my exchange and completion). Without wishing to go into irrelevant details the job & company is a much better opportunity for me and the basic salary is £800 more per annum; not a massive difference but there's bonuses and a bigger picture & considerations to it all with career development etc.
Obviously with me having exchanged I am in a serious position where I do not want to take unnecessary risk with losing a mortgage offer via a job change and not wanting to mess up the mortage for my other half.
I queried Nationwide's new business department about the effect of a job change and they said if I hadn't have said anything they would never have known but now that I have mentioned it they have now noted on it on my case file....does that mean they will now make sure to check who my employers are before completion?
When I spoke to Nationwide again they stated it would be ok as long as the new job was the same salary or more. However, I wanted to double check opinion on here as the telephone department I spoke to, although not wishing to doubt their knowledge are not advisors and did seem pretty casual/calm about it....whether that's a good or bad thing!?
Maybe I am over analysing it but even if in principle the job change is ok with them because it is more money- could their be a detrimental knock on effects elsewhere with the application and ntheir crieteria, say with their scoring system i.e because I have not yet started I have no payslips as of yet so that loses points? By time completing hits I will have had at least 1 pay slip.
Would another credit score 3 weeks after that used for the original offer be detrimental?
Nationwide said they'd need a reference from new employer or contract.
Ultimately, I was wondering if anyone knew from your experience within the industry whether a job change at this stage would be detrimental to my mortgage offer in the particular case of NATIONWIDE mortgages. This especially important due to the implications of me exchanging.
Is it as simple as Nationwide are ok with job changes that have increased salary and that's the end of the matter if it is verified by my new employers?
As you can see I am a worrier so I thank you for your time on this matter.