First Time Buyer - Mortgage help!

bleschu

Hi

I am looking to buy a house with my OH.

Employment wise - I am currently in a fixed term contract until January. Although I've been told it will be extended until September, I'm going to start looking for a permanent contract to start in January. The plan is not to buy any houses until this happens. If all else fails, will any lender consider me with only a 9 month contract?

OH is self employed and living in a flat owned by his parents. The plan is that the flat will be sold and some of the proceeds will come to OH to go towards a house. The amount will be 50% of the property value (up to a maximum) and I will find the other 50%.

He will then pay his parents back a monthly sum, while I will pay off my mortgage. The house will be in both our names on the deeds.

How will this work with a mortgage? Will OH's 50% represent the deposit for the mortgage? Will he then have to be named on the mortgage? Is there a better way of doing this?

Kirsty

stingray2

I have a temporay contact until December, have just applied with RBS and they didn't ask if I was permanet...as long as you've been there more than 3 months and have three months payslips they are fine xxxx

bleschu

That's good news!

I still would prefer a permanent contract for my own peace of mind, and also the fact that it would be much easier to choose where to buy a house if you know roughly where you were going to be working!