New job home loan

Started a new job? Find out how to get approved!

Congratulations on starting your new job! Many people decide to buy their first home or investment property when they have found a stable job with an excellent income.

Unfortunately many banks will not lend to people who have only been employed for a short period of time. So how can you achieve the great Australian dream of home ownership? Read on to find out more.

How long do I need to be in my job?

In order to qualify for a mortgage, it is important to demonstrate employment stability. Banks are generally reluctant to lend to those who have been working less than 6 months.

Most banks require you to be a minimum of 6 months to 12 months in your current position to borrow 80% of the property value and a minimum of 12 months in your role to borrow more than 80%. However, not all banks think the same.

Enquire online or contact us on 1300 889 743 to speak to an expert mortgage broker who can help you get approved.

Which lenders can help?

Not all lenders require that you to be in your job for more than a year. In fact many lenders understand that younger generations are in high demand, are highly skilled and are career opportunists that actively change jobs to seek a higher salary or better working conditions.

To find out which lenders will borrow, please call us on 1300 889 743 or enquire online today.

Only been in your job for 1 month?

Some banks recognise that despite a short employment history, many individuals are in a strong financial position and have industry experience.

Our best lender for people in new jobs can approve home loans for people who have been in their job at least one day on a case by case basis. They have no problems with people who have been in their new job for 1 month, 3 months, 6 months or more.

Please enquire online or contact us on 1300 889 743 to speak to a mortgage broker that specialises in arranging loans for people who have been employed for only a short term.

How much can I borrow?

You can borrow up to 90% of the value of the property that you are buying. If you are in a strong financial position then a 95% loan may be available. Discounted professional packages, basic loans and line of credits are available.

For expert help and assistance with your loan application call 1300 889 743 or enquire online. We specialise in assisting those who have just started a new job and have been declined by the banks. Speak to us today!

What if I am changing jobs?

Many of our customers call us because they are in the process of leaving their current employer and starting a new position elsewhere. In most cases they have extensive experience in their industry and are moving jobs to take advantage of a better offer or have been head-hunted by a recruitment agent.

What do the banks think?

Most lenders will generally not approve a loan for you while you are in the process of switching to a new employer. However there are a few major lenders with competitive interest rates that can consider approving your home loan before you have commenced your new role.

If you are in this situation then we can help! Please contact us on 1300 889 743 or enquire online to speak to an expert mortgage broker.

How can i get approval?

Depending on the lender they may require you to commence the new job prior to issuing your formal loan approval, or in other cases if your income from your existing job is sufficient to repay the loan then they can approve your loan on that basis.

To discuss your situation with a specialist mortgage broker, contact us on 1300 889 743 or enquire online today!

Why are most lenders so conservative?

Many lenders are very risk adverse and are concerned that if you have not been in your job for very long then you have a higher chance of leaving your job or your employment being terminated during your probation period.

Apply for a home loan

Here at the Home Loan Experts our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders. Please enquire online or contact us on 1300 889 743 to discuss your situation with a mortgage broker who will help you find a lender that can accept your short term employment.