Hello,

My partner and i have finally found a house that we like and i went to apply for a loan yesterday however because i changed jobs 2 weeks ago i was told i would need to wait. I am a nurse and nurses tend to move jobs a bit and i was told this can be an issue when applying for a loan. I am on a good salary and can afford to have the entire loan in my name, however my partner has saved the majority of the deposit. he has previously had a home so we were planning on putting the loan in my name so i can get the FHOG. however i know this may be an issue as he was just going to give me his saved money and then that would be considered non genuine savings.
we are very disapointed as we have been looking for a house for several months and now we have found one we like and can afford to pay for it we are unable to get a loan because i have started a new job.

do you have any suggestions? how long do i have to wait in a new job before i can get a loan?

thanks

The combination of being in a new job and having no genuine savings may be an issue. If you are borrowing 85% of the property value then we can help you without any problems. If you are borrowing 90% then we have a problem as the lenders that can accept no genuine savings tend to be very bad with probation / short length of time in your current job.

Can you work with an 85% + LMI home loan?

Thanks

_________________
Otto Dargan
Mortgage Broker
Ph: 1300 889 743
The Home Loan Experts

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