I am on temp 3 months contract, 40 hours/week, renewed 3 times. Did anyone manage to get mortgage on same circumstances? Worried because it's temp job the lender might not accept the application.
Any success will inspire me to be on property ladder.
Many thanks.
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FTB mortgage for temp postie
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koolishy67
- Posts: 665
- Joined: 04 Nov 2010, 21:02
- Gender: Male
Re: FTB mortgage for temp postie
it depends on the bank,credit history, deposit but i advise you don't go to hsbc.
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Sick Postie
- Posts: 91
- Joined: 12 Jul 2007, 20:51
- Gender: Female
- Location: Ulster
Re: FTB mortgage for temp postie
Employment contracts
Sub Contractors, Fixed/short term contracts and Agency workers
Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Evidence of their employment track record may be required.
Got this from the Halifax site, I reckon the rest of the lenders are pretty much the same but speak to a mortgage advisor before you apply.
Sub Contractors, Fixed/short term contracts and Agency workers
Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Evidence of their employment track record may be required.
Got this from the Halifax site, I reckon the rest of the lenders are pretty much the same but speak to a mortgage advisor before you apply.
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Soulazydll
- Posts: 34
- Joined: 09 Jan 2012, 11:28
- Gender: Male
Re: FTB mortgage for temp postie
I am currently trying to get a mortgage with my temp 30 hour contract, had an agreement in principle but now think it will all go pear shaped as I have just received a copy of the reference that they require from RM. The question that most concerns me is 'as far as you can tell, will the contract be extended?'
Now, due to the new contract statements for fixed term, going along the lines of 'the reason for a fixed term contract is that it is anticipated employment will cease on this date due to company reform' I believe they will put a big fat NO in that box.
With that in mind, i wouldn't even give me a mortgage but, what really annoys me is that I know it WILL be renewed (as long as I continue to do my job properly) my manager has given me assurances! Even written a letter saying as much! We are currently recruiting, have an employee leaving in a couple of months and have a massive new estate going up which will create a job on its own!
It's a gamble I suppose and there is no diffinitive answer, I've had my fingers crossed for a long time and looks like the only bit of advice a could give you.
Now, due to the new contract statements for fixed term, going along the lines of 'the reason for a fixed term contract is that it is anticipated employment will cease on this date due to company reform' I believe they will put a big fat NO in that box.
With that in mind, i wouldn't even give me a mortgage but, what really annoys me is that I know it WILL be renewed (as long as I continue to do my job properly) my manager has given me assurances! Even written a letter saying as much! We are currently recruiting, have an employee leaving in a couple of months and have a massive new estate going up which will create a job on its own!
It's a gamble I suppose and there is no diffinitive answer, I've had my fingers crossed for a long time and looks like the only bit of advice a could give you.