A project manager moved from one firm to another in Marrickville for a $28,000 pay rise.
Often, yes. Some lenders accept probation when you stay in the same field and the new contract and salary are in writing; others wait until probation ends.
Choosing a lender that reads the new salary, with the contract and first payslips, is usually what makes the purchase possible.
Part of the employment and income home loans guide.
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Had a great experience with Charles. He made the home loan process straightforward, was always easy to communicate with, and really knew his stuff. Would definitely recommend Charles and the team!
Paperwork and finances were never my strong suit. He has made this process as simple and dummy proof for me as humanly possible. This is not the first time I use a mortgage broker, however it was the easiest and most pleasant.
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Lender policy on probation splits into recognisable camps. Some require probation completed, full stop. Some accept probationary employment where the role is in the same industry with continuous prior service, which describes this borrower exactly.
Some look at the contract terms, whether termination requires notice, rather than the probation label itself. And some treat a salaried permanent role differently from casual or contract work, which our casual employment guide covers separately.
The employment contract first: permanent versus fixed-term, notice provisions, and whether the salary is base or includes variable components. Continuity of income across the job change, because an unbroken run in one industry is the strongest argument available here.
The size of the deposit, since a stronger deposit widens the lender list on any policy-sensitive file. And the timing question: whether a short wait materially improves the outcome, or costs the house.
Mainly which lender, and in what order: a decline from a lender with a blanket rule sits on the credit file and reads badly to the next assessor, so preparation matters more than on an ordinary purchase.
Where the new role includes bonus or commission that has not yet been paid, most lenders will not count it at all until there is history, so the assessment runs on base salary alone and the budget should too.
A change from permanent to contract work at the same time is a different and harder file again.
A new job is usually a strengthening of your position that one lender's calendar refuses to see. If you have continuous service in the same field and a permanent contract, ask which lenders read that continuity rather than accepting the first blanket answer.
And do it before you make an offer, not after the contract is signed with a finance clause running.
Often, yes. Some lenders treat a probationary period in the same field with continuous history as ordinary employment; others want the probation completed. Which lender sees the file is the whole game.
Yes. Lenders can re-verify employment close to settlement, so a job change mid-purchase should be planned with the broker rather than discovered by the lender.
An employment contract showing the role, salary and start date, plus payslips as they arrive. Continuity in the same industry carries real weight in how the file reads.
Thirty minutes with Charles: how your contract and service history read to a lender that understands probation, and what you could borrow now.
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This is an illustrative example scenario, not a description of a specific client and not a testimonial. The figures are realistic but rounded, no lender is named, and no outcome is promised, every application is assessed on its own facts. General information only, not credit or financial advice.
