Job Switching

In the tech industry, changing jobs is often a smart career move. Whether you are chasing a better opportunity, a higher salary, equity in a fast growing company, or simply a role that better matches your skills, job switching is a normal and healthy part of a tech career. The problem is, Australian lenders do not always see it that way.

At Tech Home Loans, we work with tech professionals who have complex employment histories every day, and we know how to position your application so that your career progression works for you, not against you.

Why Lenders Are Cautious About Job Switching

When a lender assesses your home loan application, one of the key things they are looking for is income stability. From their perspective, a borrower who has been in the same role with the same employer for several years represents a lower risk than someone who has moved between roles or companies recently.

For tech professionals this creates a frustrating disconnect. A software engineer who has moved from one well known company to another with a 30 percent pay increase at each step is in a strong financial position, but a lender looking at the same employment history might see instability rather than growth.

Most lenders want to see at least 6 to 12 months in your current role before they will consider your income stable enough to lend against. Some are even stricter, requiring a full 12 months of payslips from your current employer before they will proceed.

When Job Switching Creates Specific Problems

There are a few scenarios that tend to create the most friction with lenders.

If you have recently started a new role and are still within a probation period, most lenders will not approve your application until probation is confirmed as passed. Even if your income is strong, probation is treated as a risk factor.

If you have moved from a permanent role to a contract role, even with the same employer, lenders may reclassify you as self-employed, triggering a completely different and more demanding assessment process.

If your new role includes a higher base salary but a lower or deferred bonus structure, some lenders will assess you on your previous income average rather than your new salary, which can reduce your borrowing power in the short term.

And if you have had more than two or three employers in the past two years, some lenders will simply decline regardless of your income level, while others will want a detailed explanation of each transition.

What Works in Your Favour

While job switching can complicate a loan application, there are several factors that work in your favour when applying through the right lender.

Staying within the same industry and role type is a strong positive signal. A developer who moves from one software company to another is viewed very differently to someone who has changed industries entirely. Lenders are generally comfortable with career progression within a field even if the employer changes.

A clear upward trajectory in salary across each role change also helps tell the story of a professional in demand rather than someone with unstable employment.

Having a current employment contract in place that confirms your role, salary, and start date is essential documentation that can support your application significantly.

And if you have passed your probation period and can confirm this in writing from your employer, that alone can unlock lenders who would otherwise decline.

How We Help Tech Professionals Who Have Changed Jobs

At Tech Home Loans we understand that career growth in tech rarely looks like staying in the same seat for five years. We take the time to understand your employment history and identify the lenders who assess job switching fairly, particularly within the tech sector.

We work outside of standard business hours because we know your day is full, and we prepare your application in a way that frames your career moves as the professional progression they are, rather than the instability some lenders assume.

If you have recently changed jobs or are planning to before buying, get in touch with the Tech Home Loans team. We can talk through your timing, your options, and what steps to take now to put yourself in the strongest possible position.

Initial Appointment
Begin by having a chat with one of our qualified Finance & Mortgage Brokers. We will take the time to understand your situation, including special policies specific to Tech Industry Workers. We will also discuss loan options from banks and lenders across Australia, guiding you through the next steps of the application process.

Fact-Finding
We will collaborate with you to gain a comprehensive understanding of your financial situation, including your financials, assets, and credit history. This helps determine your borrowing capacity. We will review your bank statements and other relevant documents to provide accurate advice.

Pre-Approval
Once you receive pre-approval, you can confidently begin bidding or making offers on properties you wish to purchase. We will explain the loan amount, interest rates (both variable and fixed), and potential interest rate discounts. We also discuss the importance of the loan to value ratio (LVR) and any lenders mortgage insurance (LMI) that may be required.

Loan Settlement
Upon settling on the property, your Home Loan will be drawn down, and you will be all set to move forward. We will help you navigate the settlement process. We will also assist in calculating loan repayments and managing your loan interest rate to suit your needs.