Temp Contract

Sparkle78

I have just found out that 99.9% lenders will not agree to a mortgage even if;

You have had a mortgage for 11 years
Never failed in any repayments
Paid even during spells of unemployment (without claiming benefits)
Have equity in your home
No debt
Good credit rating

Only a certain percentage will lend on the basis that your temp contract has been extended at least once!

I got my initial mortgage when I was earning half of what I am now yet having doubled my income (temp or otherwise) will not even agree to lend the remaining outstanding balance.

No wonder the UK is in the sh**s when genuine people go out and work and get hee haw help!

beecher2

You could argue that we're in the state we're in partly because of the lending criteria which banks had in recent years. Why don't you go to see a mortgage adviser to get advice on what the situation is now, and who the best lender is to approach.

Sparkle78

I understand where you are coming from however it seems that ALL are tared with the same brush... I have worked long and hard never missed a payment blah blah blah and yet it seems living by the book doesn't do you any favours. I have seen a mortgage advisor and my house is up for sale, has been for 7 months and even if I sell, get £10k clear, I still cannot get a mortgage on a property of £60k when I earn £20k. It just frustrates me!