Re: Do banks lend to people who've only recently started working again?
Posted: Tue May 14, 2019 3:01 pm
Hello Monica C. Welcome to the forums and congratulations on the baby boy.
While it’s true that most lenders are reluctant to lend to people who’ve been working for less than 6 months, not all lenders have this policy. One of our lenders even allows you to borrow up to 95% of the value of the property even if you’ve just started a new job.
To qualify for a new job home loan:
Cheers,
While it’s true that most lenders are reluctant to lend to people who’ve been working for less than 6 months, not all lenders have this policy. One of our lenders even allows you to borrow up to 95% of the value of the property even if you’ve just started a new job.
To qualify for a new job home loan:
- You need to show prior employment stability.
- You’re borrowing up to 90% of the value of the property, you can borrow up to 95% if you’re in a strong financial position.
- You have a minimum of 5% in genuine savings.
Cheers,