Mortgage application employment question

meniehill

I'll seek out a whole of market mortgage broker, in the new year, in that case and explain my situation. He/she will have a better relationship with the under righters and understanding of the likely possibility of securing a good mortgage offer.

I think this may be more of a problem than I had anticipaited, especially as my new employer has given me a contract with a gap from my last employers leaving the buisness and him taking over and I've no proof I worked there for the gap period as I've no payslips for those weeks.

Thrugelmir

meniehill wrote: »

I think this may be more of a problem than I had anticipaited, especially as my new employer has given me a contract with a gap from my last employers leaving the buisness and him taking over and I've no proof I worked there for the gap period as I've no payslips for those weeks.

Were you were paid in that gap period?

meniehill

I was paid but not given a payslip and I suspect no declaration to the tax office of my earnings during that period so I've no proof I worked there or any of the rest of the staff, but we were trading.

meniehill

As I cannot prove my continious employment to any mortgage company past the middle of September (although it is over 10 years at the same location with a gap of 7 weeks) and setting aside the TUPE issue, given I'm only requiring to borrow 65k over 20 years on a combined salary of 38k (2 x 19k)

With a a deposit of 40k savings and 60k from sale of present property and looking to buy a property requiring work for about 150k . Would we be regarded as such a risk?

Thrugelmir

meniehill wrote: »

Would we be regarded as such a risk?

Not so much a question about being a risk. More whether you meet the lenders criteria. Short length of time in job maybe a stumbling block,.

meniehill

So how long would you think be the minimum time on a new permenent contact be considered acceptable for a mortgage offer to be approaved given my other criterea?

Conrad

meniehill wrote: »

So how long would you think be the minimum time on a new permenent contact be considered acceptable for a mortgage offer to be approaved given my other criterea?

A couple of lenders will take people of a probation. All I'm saying is do not put down 10 years on the app as this might not tally with your payslips. Better to be open at outset and chose the right lender.

A decent mortgage broker will be able to help you. Beware as most will want to sell you life cover. That's fine as long as it's as cheap as you can find yourself online. Brokers can make a decent policy (say with AVIVA or another large co) cheap by refunding commisson back into it.