Proof of Employment for a mortgage?

robmcp1888

I am currently employed on a temporary/permanent basis.

I am paid through payroll and have wage slips and all the benefits of a permie. However I have a contracted end date in November.

It's highly likely I will stay on after that and extend the 'contract'.

Would I be able to show a mortgage provider my last three wage slips and get a mortgage? Or do they require a confirmation from your employer that you are in fact a permanent employee?

My wife also works and she is fully employed. We are home owners who are looking to sell and move.

Any help with this would be gratefully appreciated.

Senior_Paper_Monitor

They will ask you the nature of your employment during the application process - contract is one of the definitions.

If you lie ....

1) its fraud

2) they may take a specific reference from your employer

1+2 = big trouble

Some lenders will consider contract employees (depending upon all other relevant circumstances) particulalrly if they are on 2nd or further cycle of contract

property.advert

It all depends. If your wife's salary is large enough to cover the mortgage, then they may not even ask your employer. However it would appear that you need your income to count. If you do, then things like your current equity and the equity you would have in your new place come into effect. A history of regular renewed contracts does not always mean no mortgage (I have friends with huge mortgages and they are on contracts) but it will probably mean a human with a brain has to look at the application and understand just what is really going on in your finances.

If your contract ends in November, then are you likely to be made permanent ? If you are on contracts and PAYE then why ? when other more tax advantageous ways of being paid are available to you.

I would ask your main bankers. They know most about you. Also, your current mortgage providers as they know your history from that side. I think planning ahead is the key and a visit to an IFA is probably in order. The greater your deposit, the more chances you will have.

robmcp1888

Thanks for the responses.

I think we will need both of our incomes to get the required mortgage.

I have been with this employer for 2 years now, 18 months as permanent, then 3 months off travelling, and have now been back for 2 months temp/perm.

It looks like I will have to somehow go fully permanent with my current employer (difficult for them to sign off due to headcount restrictions.) or get a brand new job. Quickly!