Last reviewed: June 2026
TL;DR- Porting a mortgage requires the lender to assess affordability on the new property - including reassessing income if employment has changed.
- If you have recently started a new job and are still in a probationary period, some lenders may decline the port or require the probation to be completed.
- A new job in the same field at a similar or higher salary is assessed more favourably than a career change or a reduction in income.
- If the port cannot proceed due to the employment change, you may need to remortgage to a new lender or use a bridging loan.
Why Employment Changes Complicate Porting
Porting a mortgage transfers the existing product to a new property but requires the lender to conduct a new property assessment and typically a new affordability review. The new affordability review uses the borrower's current income - if that income has changed due to a new job, the lender must assess the new employment circumstances. A borrower who was previously securely employed on a good salary but has recently started a new job may be treated differently even if the new salary is similar.
Lenders are cautious about very recent employment changes because the new job could end during the probationary period, leaving the borrower without income to service the mortgage. The risk of a probationary period employee losing their job is assessed as higher than for an established employee.
How Lenders Treat Probationary Periods
Some lenders require the borrower to have passed their probationary period (typically three to six months) before they will accept the employment as fully qualifying income. If the borrower is still in probation at the time of the port application, the lender may: decline the port until probation is completed; accept the application if the new employment is in the same field and at the same or higher salary; or accept the application with the salary evidence available even during probation, depending on the lender's specific policy.
Lender policies on probationary period employment vary - this is an area where a whole-of-market broker's knowledge of specific lender criteria is valuable.
When a New Job Is Assessed Positively
A new job is less likely to cause problems with a port where: the salary is the same as or higher than the previous job; the new employment is in the same professional field; the new employer is a well-known or established organisation; the contract is permanent (not fixed-term); and the borrower has a strong history of employment without gaps. In these circumstances, some lenders will proceed with the port even during probation.
If the Port Cannot Proceed
If the port is declined due to the employment change, the borrower's options include: waiting until the probationary period ends and then proceeding (if the property purchase can be deferred); remortgaging to a new lender who has more flexible employment criteria (accepting that the ERC on the existing deal may apply); or using a bridging loan to fund the new property purchase while the existing property is sold and the mortgage is subsequently arranged in the normal way.
Frequently Asked Questions
Do I have to tell my lender I have changed jobs when porting?
Yes. The porting process involves an affordability assessment using current income information. Providing false income information to a lender is mortgage fraud. If employment has changed, the new employment details must be disclosed and the lender will verify the new income through payslips and employer references or contracts.
What if my new job pays significantly less than my old job?
A significant reduction in income will directly affect the affordability assessment. The lender assesses whether the lower income supports the ported mortgage on the new property. If the lower income is insufficient, the lender may: reduce the mortgage amount available; decline the port entirely; or require a larger deposit on the new property to reduce the loan. The affordability must be met at the current (lower) income level, not the previous income level.
Can I port my mortgage before starting the new job?
If the old employment is still active (the last day has not yet passed) and the start date of the new job is imminent, some lenders will consider the port on the basis of the existing salary, particularly if a signed contract for the new employment is provided. Others require the new employment to have started. The specific timing requirements should be confirmed with the lender or broker before the purchase proceeds.
Is a fixed-term contract treated differently from a permanent contract in porting?
Yes. Fixed-term contracts introduce uncertainty about future income at the contract's end. Lenders assess the remaining term of the fixed-term contract and whether renewal is likely. A fixed-term contract with a well-established employer in a field with strong demand for the borrower's skills is assessed more favourably than a short-term contract with limited prospects of renewal. Some lenders require a minimum remaining term on the contract before they will accept fixed-term employment income for porting.
