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Mortgage for temporary contract worker?

Last post Mon, May 09 2011, 1:11 PM by Help_needed_all. 5 replies.
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  •  Mon, May 09 2011, 1:11 PM

    Re: Mortgage for temporary contract worker?

    Hi Andy,

    Please advise on above how to get mortgage for temporary contracts.

    Regards,
    Vinay

    • Post Points: 5
  •  Wed, Nov 15 2006, 4:16 PM

    Re: Mortgage for temporary contract worker?

    Hi Moose, thanks for posting back, it makes a nice change. All Lenders have different criteria and it's really down to each one. But as I said my site is in my sig and we have a great reputation. Cheers David
    • Post Points: 5
  •  Wed, Nov 15 2006, 4:01 PM

    Re: Mortgage for temporary contract worker?

    Thanks guys...

    I find it strange that you have to wait 3 months - are they waiting to see if you can stick the job out or something? Without wanting to tempt fate, i am confident i will have opportunities to continue in this role but i guess this is difficult to demonstrate to a would-be lender. I could get references, if they require something. Anyway, as i have to wait 2.5 more months, i have time to think about it!

    Thanks again,
    Moose
    • Post Points: 20
  •  Wed, Nov 15 2006, 3:07 PM

    Re: Mortgage for temporary contract worker?

    Agree with Andy, but affordability is the most important factor here. You need to be virtually 100% certain of getting a longer term contract after this one works out. As payment protection would most likely not cover you on ceasation of current contract.
    My site is in my sig.

    Cheers David
    • Post Points: 20
  •  Wed, Nov 15 2006, 2:25 PM

    Re: Mortgage for temporary contract worker?

    Hi moose

    Yes there are lenders who will allow this
    You need to have been working on the contract for 3 months and the contract needs to be for 12 months so in principle this works

    If you need further details email my username


    Regards


    Andy
    • Post Points: 35
  •  Wed, Nov 15 2006, 11:31 AM

    Mortgage for temporary contract worker?

    Hi,

    Thanks for taking the time to consider my question.

    I am currently on a 1 year contract as an academic researcher. Will i be able to get a mortgage (all other things being fine)? I have money for a deposit and good prospects in terms of moving to a longer contract after this one.

    I've had a look on the net and in this forum but not got a clear answer about this so any help would be much appreciated.

    Many thanks,
    Moose
    • Post Points: 20