Getting a mortgage when employed temporarily

Kay2010

Hi, please can anyone tell me if I'm likely to be able to get a mortgage when I'm on a fixed term contract for a year and my fiance is on a permenant contract? I had no credit rating as I'd never had a loan or credit card but I'm currently trying to build up some history. No problems with money in the past so I'm hoping there is a chance. Thanks, Kay.:o

Owain_Moneysaver

It's not impossible but you can understand that lenders will be cautious. If you have a good history of getting repeated/renewed temporary contracts in the past that will strengthen your application.

opinions4u

Is this the first year of fixed term contract with the same employer, or does it have a habit of being renewed?

I'd suggest seeing a reputable local broker for help ... the worst that can happen is that they tell you the amount available on mortgage isn't as much as you'd like. But at least you'd know for sure.

herbiesjp

What are the figures you are looking at?

Purchase price
Deposit
Your income
Fiance income
Any other debts

Kay2010

Hi, thanks for all your replies. In response... I was working at this place the year before last on a perm contract then I moved abroad for a year for a break. I've since moved back and I'm back at the same job but for maternity cover. It's a teaching post, I don't know if that makes any difference. I'll be looking for a perm job after this contracts expires. All my jobs in the past have been perm.

We're looking to buy a house for about £150,000-£160,000 and we have just over 10% deposit. My wage is about £23000pa and my fiance about the same. We have my student loan of about £20k and I've just started to pay that back after taking a break. We don't have any other debts.

Thanks again!