New Job probation - Looking for pre-approval financing

SaberX on 07/08/2014 - 00:41

Hi guys

Basically new job.. 6 months probation to go… some upcoming land releases and I was keen on potentially securing a block. No guarantee i'll get the 'random' sales appointment out of the thousands who register, but if I do they require a pre-approved financing letter.

Just wondering as my usual pre approval contact at Bankwest reckons I can't get it without being off probation. Surely there must be institutions who offer a competitve rate for those still on probation as others would start new jobs, some with 6 months, 1 yr probtation and need to buy a house or something?

Just wondering if anyone had any recommendations? Looking for a decent bank, good competitive rate, facility etc, regardless of the name.

Or have I no choice but to tank 6 months probation? Previously i've worked two jobs straight of 2yrs+ each since graduating, and if anyhting my pays been going up from strength to strength (now up 24% pre-tax than my prior job). SO I would think if my prior job offered enough to purchase a block of land, surely now I could?

Any help would be great.

Financial

Comments

  • [Deactivated] on 07/08/2014 - 08:46

    Few years back I applied for my home loan at NAB in a similar situation - still on 6month probabtion period. The question about probation was never asked, so I never told. Just provided couple of months payslips at the time.

    Just shop around.

    • SaberX on 08/08/2014 - 17:48

      Ahh i see, but when you went for the final loan credit approval they never asked either? They just accepted your pay slips?

      Still a risk I guess if they asked and picked it up or were able to void your contract or penalise you if they somehow found out after?

      How are you finding NAB?

      • [Deactivated] on 12/08/2014 - 09:50

        I simply emailed 2months of electronic payslips which did not indicate any details of employment status.

        A bank would hardly void your contact for this reason and they cannot just penalise you unless it was in the contact initially. I suggest before you sign anything read in detail what you are getting yourself in for.

        Bank is a bank to me. I rarely have to deal with person or branch. I just wanted the lowest rate possible with offset account and NAB were willing to negotiate.

  • ShannonIngram on 07/08/2014 - 14:25

    Bankwest doesn't do probation periods but there are plenty out there who do. You need to ideally have experience in the same industry and have received at least 1 or 2 pays in the new role already.

    If that fits your scenario, drop me a line (http://www.smartline.com.au/consultantpages/singram/location…) and I should be able to assist.

    • SaberX on 08/08/2014 - 17:49

      Actually Bankwest seem to have indicated a pre approval could be given but you'd need to have finalised probation prior to receiving the final, actual loan approval.

      I'd only be getting my first whole payslip end of august which is an issue. Can you not substantiate via the contract, and your annual figure?

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