Need a new mortgage with a temp job and defaults!

scarci73

Hi there! Hope someone can help me. My husband and I currently have a mortgage of £200K with the house valued at £300K. So we have about £100K equity to play with. My husband has a permanent job earning around £42K and I have a temp job earning £28K working for a massive financial company that until 10 months ago employed me permanently (worked there for 14 years until I was made redundant and then re-hired 6 months later as a temp). The temp contract is due to end in April but I have already been told it will be renewed and hopefully made permanent before the end of the year. Plus my husband and me have a few defaults from 2005. Does anyone know if we could get another mortgage for another property costing up to £350K or do I have to wait until I get a permanent job? and what about the defaults that are 5 years old?
thanks very much in advance!

Conrad

It is possible subject to what details lenders find on thier systems. Your public Equifax report might give you an inkling, but don't set to much stall by it as lenders use thier own scoring systems.

I would think an underwriter may take a favorable view on your employment. A decent long established small brokers may well have built a long term relationship with such underwriters, otherwise you could try pot luck and try lenders direct.

scarci73

Conrad, thank you for the information. How can I find an underwriter? Can you raccomend any? I'm currently with GE Money, would it be a good idea to see if they would help me? I am tied in with them until August this year on a fixed rate of around 6.5% (interest only).

Thanks!

VIGILANT22

QUOTE: How can I find an underwriter?...You don't, it is the adviser who does.