Changing jobs - reader question

This comes up so often, lets have a quick chat about changing jobs right before you buy, anything.

A reader question:

“Just wondering if there is a minimum employment tenure in the same company that lenders look for in a loan application?

Background behind my question is that I've put a deposit down for a block of land due to register around the middle of this year. I'm thinking of changing jobs meaning that with the new job I'll only have a few months of tenure when I go to do the application. Is this something that can cost the approval?”

The answer to this question is it depends on the strength of your loan application - if you have a large deposit, if everything else is strong, and maybe your co-borrower is stable in their job, it can work - but before you jump have a chat with a broker, because it's more a case of maybe than a definite yes.

It definitely won't work if you become newly self employed or try an entirely new role. Probation is an issue with most lenders also.