Changing jobs can be exciting. New opportunities, better pay, maybe even a healthier work-life balance. But if you’re a homeowner or in the middle of applying for a mortgage, a change in employment can raise some important questions.
Here’s what you need to know:
If You Already Have a Mortgage
If you’ve already completed your mortgage, changing jobs won’t usually cause any problems. Your existing lender won’t reassess your income unless you plan to remortgage, borrow more, or move house.
Still, it’s sensible to make sure your new role doesn’t disrupt your ability to make payments – especially if there’s a gap between leaving one job and starting the next.
Tip: if your pay date changes or you move from monthly to weekly wages, review your direct debit schedule so your mortgage payment still leaves on time.
If You’re Applying for a Mortgage
If you’re in the process of buying or remortgaging, changing jobs can affect your application, even if the new role comes with a higher salary.
Lenders like stability. They want to see that your income is secure, regular, and long-term. Starting a new job during the application stage could mean they’ll ask for:
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A copy of your new employment contract
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Your first payslip once you’re settled
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Additional proof of income if you’ve changed industry or job type
If you’re going self-employed, it’s even more important to plan ahead. Most lenders need at least one full year of accounts before they’ll consider your income.
When’s the Best Time to Change Jobs?
If possible, try to delay any major employment change until after your mortgage has completed. Once your loan is active, lenders are less concerned about short-term shifts.
If that’s not realistic, let your broker know as soon as possible – transparency avoids delays later.
A job change doesn’t have to stop your mortgage plans – it just takes some planning.
Talk to the team at Your Mortgage Shop for clear, practical advice tailored to your situation.
We’ll help you make your next move – confidently and smoothly.
