We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is a placement year salary included in mortgage?
Options

stuart2588
Posts: 25 Forumite
Hi
My partner is on a years work placement in the middle of her uni degree. She is on placement until September this year and after that will go back to uni for another year. WHile at her last year at uni she will still be earning from a part time job she has had for years, although not just as much as what she does at the min.
Is her placement year salary taken into consideration when we apply for a mortgage? Going to mortgage advisor on thurs.
Stuart
My partner is on a years work placement in the middle of her uni degree. She is on placement until September this year and after that will go back to uni for another year. WHile at her last year at uni she will still be earning from a part time job she has had for years, although not just as much as what she does at the min.
Is her placement year salary taken into consideration when we apply for a mortgage? Going to mortgage advisor on thurs.
Stuart
0
Comments
-
I would be surprised if her placement year salary is taken into account. Typically the placement year job isnt even for a whole year. I would expect they would treat it as a short erm contract (which in fact is what is effectivly is)YNWA
Target: Mortgage free by 58.0 -
Thanks for reply. It really confusing as some independant mortgage advisors are saying that they will take it into account and others arent. Our next mortgage advisor we are going to see is a friend of a friend so fingers crossed this will be more helpful than previous ones.0
-
You will be asked what type of contract you are on, eg Full Time Permanent, Temporary etc etc, by the lender in the application form. Will the deal not work on your income alone? Or, indeed, your income and you partners part time income?Happily an ex mortgage broker!0
-
It will work on my income and her part time income. However while she has been on her placement year at uni working full time she hasnt been doing as many hours in her part time job.
However she could do as many hours as she wanted in her part time job starting tomorow if it was needed..0 -
see how you go with this new adviser and keep us posted. This sounds as though it may be workable, some of the smaller building societies have less of a "blanket" aproach and dependant on your circumstances as a whole there may be some milage in that route.Happily an ex mortgage broker!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards