Discussion in 'Pay and conditions' started by versitygirl, Jan 5, 2007.
Does anyone know if you can apply for a mortgage if your contract is only temporary. It is a joint mortgage and partners job is permanent but mine is to cover a maternity leave. Officially ending Feb 08 but is likely to be sooner as at the moment she wants to return ASAP. As this is more than a year's contract is it possible to secure a mortgage on it. I am hoping to get another job in September and if not teraching would settle for something else until teaching comes along so won't be unemployed.
I am on supply at the moment short term whilst still looking for jobs and had to go through this process recently. Our mortgage adviser explained to us that as it was only classed as temporary work, not many mortgage companies will offer you the joint mortgage yo are after. I think this is the case with any job not permanent. We were able to get a mortgage where I m down as a contributor to the repayments. It does mean you might not be able to get a higher mortgage loan as you' like but you are still guaranteed something. You might be different though with it being fairly long term. My advice would be to ask a financial / mortgage adviser.
Try the Teachers Building Society 0800 378669. They do temporary contracts as long as you have a certain amount of months left. I dealt with someone called Cath Ings, and found her very helpful.
They take recommendations so if you get lucky let me know via this forum and there may be something in it for me!!
I'm on a fixed term yearly contract and me and my husband who is in a permanent job managed to get a mortgage with Abbey through a broker. So it is possible! Nationwide were also willing to lend to us, they just wanted a letter/form filled in by my Head.