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Can i get a mortgage on Fixed Term Contract?
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# 1
lottie.broome
Old 18-05-2010, 8:54 PM
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Join Date: May 2010
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Default Can i get a mortgage on Fixed Term Contract?

Hi,

Me and my fella are looking at houses at the mo. But, i am unsure if i will be approved a mortgage.

My fella has a good job earning about 25k. I am employed on a fixed term contract - ending next March - but the contract has been renewed for a further year after as we won more funding. I have been in post for nearly 4 months now. and earn 17k.

Would we be able to get a mortgage with me being fixed term? even though my fella is the main earner?

We went to Nationwide a while ago and they said i would not be considered.. but most contracts now a days are fixed - it does not seem fair, does anyone know any lenders who can offer us a mortgage?

Thanks,
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# 2
penguine
Old 18-05-2010, 9:31 PM
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Join Date: Feb 2004
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In the current economic climate I doubt any lender will consider your income unless you have 2 years' worth of accounts. It might not seem fair, but then if you buy a property and your contract isn't renewed and you can't keep making your mortgage payments, that won't seem very fair either.
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