Life doesn't pause just because you're mid-way through a home loan application — but a change in employment needs to be handled carefully, not left to surface on its own.

Why disclosure matters, even for a better job

Loan approval is based on the financial situation disclosed at the time, including your employment. If your circumstances change materially before settlement — even for the better, like a promotion — most lenders require this to be disclosed, since it can affect the assessment.

Probation periods can affect serviceability

Starting a new role often means a probation period, which some lenders view more cautiously, even if your income has increased. This doesn't always cause problems, but it's a conversation to have with your broker as soon as the change happens, not after settlement.

What generally doesn't need to be reported

A pay rise in your existing role, or a change in hours that doesn't affect your employment type, generally doesn't carry the same disclosure weight as changing employer or employment type — though your broker is the best judge of what applies to your specific situation.

Chris Brown

Chris Brown

Managing Director & Finance Broker at New Vision Financial Services, a credit representative under Australian Credit Licence 384704 and a member of the FBAA and AFCA. More about Chris →

General information only. This article is general in nature and doesn't take into account your personal financial situation, objectives or needs. It isn't tax, legal or financial advice. Lending criteria, product availability and policies vary between lenders and are subject to change — always confirm current detail with your broker before making decisions.

Frequently asked

Will changing jobs definitely delay my settlement?

Not necessarily — it depends on the lender's policy, your probation period, and how close you are to settlement. Early disclosure gives your broker the best chance to manage it smoothly.

What if I don't tell my broker and it comes up later?

Undisclosed material changes can be treated seriously by a lender and, in some cases, jeopardise the approval. It's always better to disclose early than have it surface through other checks.

Does changing employer within the same industry make a difference?

It can be viewed more favourably than a complete career change, but it still generally needs to be disclosed and may still involve a probation period consideration.