General Chat, Products & Comps <
07/01/2013 at 15:13
Is it impossible to get a mortgage whilst working on a contract or just harder?OH is on a permenant contract but I am currently on a temporary contract (been here since Sept 2011) until April 2013 with the chance of being made permenant then
07/01/2013 at 15:19
Can you not use your signed contracts as evidence of the permanent role come April?
07/01/2013 at 15:27
It is possible - we got our mortgage with me on a permanent contract and H on a 'fixed-term' contract (which has now become permanent thankfully). AFAIK there is a difference between 'temporary work' and a 'fixed-term contract' - what is yours? I think if you are employed on a fixed-term contract for e.g. 6 months or 1 year then you will have more chance than if you're employed 'casually'. H had to show that he'd been employed without a break (and even a week between jobs counts as a break) for over 2 years, although his actual contract at the time was for 6 months.
If you are able to wait until April then I would, as you *may* have access to a greater range of mortgages. We were lucky enough to get access to a couple of mortgages but some lenders wouldn't touch us which probably restricted what rates we could get.
Have you been to see a mortgage broker? I regret not going to see one (apart from the ones inside the estate agents who quite frankly were rubbish).
07/01/2013 at 15:33
I am on a fixed term contract and I will know at the end of March if I am going to be made permenant (if I am I will have no probabtion period). Might look into a mortgage advisor out of interest, it's just an idea at the moment.
07/01/2013 at 15:37
We refer clients, who are often contractors or self employed to our broker. Email me if you want their info x
07/01/2013 at 15:42
Oh fab thanks lovely, will message you tonight x
07/01/2013 at 18:22
We used charcoal mortgage advisors as was recommended by pils and they were really good I was on a fixed term contract at the time but we didn't take my wages into account budgeting wise. They were really helpful and we have recommended to our friends and they have had positive experiences as well.
07/01/2013 at 21:55
Yes it is.
I am on a contract until 2014 and H until October this year we have an existing mortgage and now a new one that will be drawn down in March when we complete.
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