Mortgages in another town

[bushbaby_de]

I have a mortgage on my flat, obtained the usual way of finding a place in my local area and using my current job to secure the mortgage. I want to sell my flat and move 100 miles away - can I get a mortgage on a new house using my current salary, then obviously leave it when I actually move? Or will mortgage lenders not be happy to do this? Any advice based on personal or professional experience welcome please, thanks.

[Buenchico]

I took out the mortgage on my current house (in Suffolk) based upon my salary from Sheffield City Council (which, fairly obviously, they could work out I probably wouldn't be receiving for much longer). There were no problems whatsoever.

Chris

[Vagrant]

Far as I know, they don't check, or care. For all the lender knows, you could be moving to another branch of the same company (or one that's closer to your new house). Many people commute 100 miles - many people are regionally based salespeople, 3 or 400 miles from their employer.

[bushbaby_de]

Fantastic, thanks both - just what I wanted to hear! I didn't fancy having to rent for a year to get 12 months in my new job before I could apply for a mortgage!

[buildersmate]

Not sure where you've got this idea from that you have to be in a job for 12 months before you can apply for a mortgage - not something I've ever heard about as a rule (you said the same thing in your original question about the sequence in which to organise this move).
It might be said by one specific lender but it certainly isn't a uniform policy.

[bushbaby_de]

Hi Buildersmate - just on the basis that on my current mortgage I was asked for 12 months of pay slips and was told they don't like to give a mortgage if you've had your job less than a year since you can be asked to leave at any time. If this isn't a hard and fast rule that's even better news!

[buildersmate]

I see. I reckon it is going to depend on the nature of your job and the employer.
Jobs that involve flipping burgers might well require such evidence, as a means of the mortgage lender assuring itself of the borrower being in a stable job (and I don't mean one that works with horses)

[bushbaby_de]

your post made me giggle! well hopefully I will move to another council or a consultancy so hopefully they will view me as stable... neigh!