In-House Counsel Relocation: Portability Without the Gap
You have spent years absorbing in-house practice: board papers due before the audit committee sits, a regulatory response landing the same afternoon as a deal close, and a General Counsel who measures your value in risk avoided rather than hours billed. Then the call comes: group legal counsel, interstate, a stronger package, and a probation clause of three to six months.
Retail credit engines read relocation as instability, not promotion: an unexpired probation clause plus bridging against the old mortgage. The model shades that income or declines outright, because probation sits inside a gate no branch officer can override.
Wholesale legal-professional policy exists because admission is a durable, verifiable credential. Lenders holding a professional package often assess probation against a signed contract of employment, and portability clauses may shift an existing facility to a new security without a fresh application.
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| Relocation scenario | Retail credit gate | Professional policy | Typical treatment |
|---|---|---|---|
| New role, probation running | Income shaded or declined | Contract-based assessment | Portability may be retained |
| Bridging between two homes | Combined peak debt tested | End-debt assessment | Bridge sized to net sale proceeds |
| Sign-on or relocation allowance | Treated as non-recurring | Base salary only | Allowance often excluded |
| Interstate move, same lender | Fresh full application | Portability clause | Valuation and fees may reduce |
1. Why Probation Is a Policy Gate, Not a Credit Problem
Under APRA's framework, lenders must apply a serviceability policy, and probation is treated as uncertain income. That is a risk setting, not a legal barrier. A signed contract is documentary evidence, and professional-package policy may accept it where base salary is unconditional.
Probation interacts with how income is verified. Where settlement falls before a full pay cycle, assessors typically rely on the executed contract and an employer letter confirming the start date, with payslips verified at drawdown. Bridging is assessed on the end debt rather than the combined peak.
2. Evidence That Satisfies a Probation Overlay
Where probation applies, the file typically needs a signed contract with a start date, confirmation that probation is standard for the role, and one pay cycle at the new salary.
- Signed employment contract: shows the unconditional base salary, the start date and any probation clause the new employer applies as standard for the role.
- Three consecutive payslips: confirms the new salary is being paid as contracted, rather than a sign-on amount or a one-off relocation reimbursement.
- Relocation allowance evidence: lenders often exclude non-recurring allowances from serviceability, so the amount is documented separately from base pay.
- Bridging assessment data: contract of sale for the old home, an agent appraisal, and the loan statements for the facility being ported.
- Admission and practising certificate: proof of current admission plus the certificate tier held with the relevant state law society or legal services board.
3. Sequencing Bridging, Portability and Pricing
Pricing on a professional package sits below the standard variable rate, and the insurance waiver is a separate lever. Where a move creates a short overlap, bridging is often written as an end-debt facility, so serviceability is tested on the residual debt.
Pricing and portability are negotiated at approval rather than at settlement. Case Study: A senior in-house counsel moved from Sydney to Melbourne on a $265,000 base with a $30,000 sign-on and a six-month probation clause, porting a $720,000 loan onto a $1.45M purchase at 90 per cent LVR while the old home sold for $1.32M.
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David Chi Tran
Emerge Finance
Frequently Asked Questions: In-House Counsel Relocation and Mortgage Portability
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