Employment contract will never be permanent?

jojitsui

I left a permanent job that I hated for one that I love

The new company I work for do not give out permanent contracts only yearly ones.

How will this affect my chances of a mortgage? (I applied for one whilst in my old job and I was accepted)
My credit rating is excellent and I have very little debt which will be paid off before I re apply.

I have a lodger already lined up would this help?

I am on 25k a year and have the deposit ready.

Any advice/ information would be greatly received

Thanks Jo

sammyjammy

I think if you work for an employer for so long (not sure how long) then you are automatically counted as permanent as far as the law is concerned e.g. for redundancy purposes etc, how mortgage ledners would view this I don't know, how long have you worked for them?

I don't think there are any lenders that will take the income from a lodger into acount.

herbiesjp

Lodger income will not be taken into account by most lenders.

The main points here would be how long have you been in this role, and how many times has the contract been renewed?

Then it will depend on the purchase price/property valuation and the mortgage amount along with the other usual criteria