Can I get a mortgage one month into a job?

Q I'm a first-time buyer with a 5% deposit. I have a permanent job, but recently learnt that I have to complete a six-month probationary period.

I have only been there for a month so far. Can I still get a mortgage? If so who with?

PB

A The short answer is, no, you can't. And if a mortgage adviser were to tell you that you can, you would probably end up paying well over the odds for the kind of mortgage aimed at people who are regarded as a bad credit risk.

Given your strong position both in having a permanent job and a 5% deposit to put down, if you are interested in buying a property, you would be much better off waiting until you have successfully completed your probationary period when lenders will be more than happy to lend to you (assuming you meet all their other lending criteria).

Leaving property purchase for another five months or so also gives you time to clear short-term debts and/or save up towards all the other costs involved in buying property such as legal fees, search fees and, if you plan to buy a property for more than £120,000, stamp duty land tax.