Mortgage Possibility- Probation Year Teacher

laurenzo99

Wondered if anyone knew the chance of me getting a mortgage when I am a probation year teacher (guaranteed one year job then out on my own to find employment).

My starting salary would be around £21,000, rising to £25,000 when I get my first full-time job after probation year. I would want to get a mortgage for a max. of £80,000 and would have around £50,000 deposit.

Thanks

VIGILANT22

How would you propose to pay the mortgage when "on my own to find employment"?

laurenzo99

savings from probation year and would take another job until I got a teaching one

VIGILANT22

very high risk for any lender....

kelloggs36

I take it you are looking now? When you have secured a perm position, THEN apply for a mortgage.

beecher2

Wait until you've got a permanent job - I know a great many probationers unable to get one so the £25,000 salary is by no means a certainty. Also, you have no way of knowing where you'll get a job - could mean the area you live in during your probationary period isn't practical when you do get a permanent contract.

u02ja3

i know of other probationers who have gotten one, but not on their own. my partner and i got one when he was a probationer, but that was a couple of years ago, it's probably not so easy now. we're thinking of moving, but won't be doing it until i've finished my proby year and (hopefully!) got a permanent job. unless you're in an area where you know you're going to get pretty much f/t supply, i wouldn't buy. if you took on another job, you might not be able to take on supply work offered, which might lead to longer term work etc.
if it was me, i'd wait, but if you're certain you're not going to move for work, then as long as you're mortgage isn't huge, then you might be able to get a mortgage.