New job and your mortgage: what you need to know

A probation period and your mortgage: what is and is not possible

If you are still in your probation period, that can affect how your mortgage application is assessed. The lender looks at how secure and sustainable your income is. The exact acceptance criteria differ from lender to lender. So a probation period does not automatically make a mortgage impossible, but it can affect your options and the moment at which you can finalize the mortgage.

The employer's statement and letter of intent explained

The employer's statement (werkgeversverklaring) is a standard document in which your employer provides information about your income, employment and contract. The lender uses this document to assess your income and employment. Exactly which documents are needed differs per lender and situation.

If you have a temporary contract, a letter of intent (intentieverklaring) from your employer can be important. When your employer states that your employment will be continued provided your performance stays the same, lenders can, under certain conditions, assess your income in much the same way as income from a permanent contract. The exact acceptance criteria differ per lender. If you work through a temp agency, a prospects statement (perspectiefverklaring) can also play a role under certain conditions.

Permanent, temporary or self-employed: the difference for the bank

A permanent contract is the easiest for banks: your current salary simply counts in full. With a temporary contract and no letter of intent, the bank takes a more critical look, and sometimes only part of your income counts. Add a letter of intent, and in practice you often get just as far as with a permanent contract.

Switching to self-employment (ZZP) is a different story. Lenders look at the financial history of your business and at its current profit. How much income can be taken into account depends, among other things, on how long you have been in business, your annual figures and the lender's acceptance criteria. Have you been working for yourself for less than three years? Some lenders offer options there too, but the assessment differs per situation. For an application with the Dutch National Mortgage Guarantee (NHG), an income statement from a party designated for that purpose may be required.

Tips for a smooth application

About to change jobs or start working for yourself while you have your eye on a house in Tilburg, Berkel-Enschot or Goirle? Ask your new employer for a letter of intent in good time, keep your payslips and annual income statements neatly organized, and if at all possible wait until your probation period is over before signing the mortgage deed. Not sure whether your situation fits within the rules? Call an advisor one time too many rather than one too few before you make an offer. That saves a lot of stress if the bank turns out to look at your application slightly differently than you expected.

Wondering what your new job or self-employment means for your mortgage?

At Belderbrandt in Tilburg, we are happy to think it through with you, whether you have just signed a new contract or are considering the leap into working for yourself. Schedule a no-obligation consultation and we will work out together what is possible for you. Call us on 06 52 69 88 22 or email Martin@belderbrandt.nl.