Got deposit but in temporary employment

wandaswish

Hello,

Any advice on the following gratefully appreciated.

My position is this, my mum is willing to provide my partner and I with a deposit of up to £35, 000 in order to help us buy a property.
Before we approach a mortgage advisor (appreciate they might have more products to offer us) or the bank (we've both been with the Nationwide for 20/10 years), I'd really like to see if any of you have had positive experiences with getting a mortgage on a temporary work contract.
I've been working as a temp for the last three years (not for want of trying to get a permanent job!) and my partner has been on a temporary contract for the last 5 years. We both work full-time and joint income is around £45,000 per annum.

Many thanks for your help.

Cannon_Fodder

What money of your own will you add to the deposit ?

On £45k income, if the answer is 'none', then in my opinion you are not ready to take on a mortgage.

_Andy_

Have the temp jobs been with the same employer?

wandaswish

Thanks for your replies.

Cannon Fodder - we have an additional £4,000 to add to the deposit. What makes someone ready for a mortgage?

Andy - yes, I have been working at the same place for the last three years, through the same temp agency. The agency say they can produce a letter with my rate of pay and how long I've worked for them.

Any further insight?

Many thanks.

Cannon_Fodder

wandaswish wrote: »

Cannon Fodder - we have an additional £4,000 to add to the deposit. What makes someone ready for a mortgage?

Having the ability to cope with unexpected bills. Having financial discipline to maintain the mortgage payments. etc

As you have managed to save some money, you are ahead of quite a few who post here...

It would be a shame to risk losing Mum's £35k, should you find yourselves unable to meet the mortgage commitment - having saved £4k, you obviously some leeway in your finances - not everyone is so far-sighted...

MrsManda

Do you have any savings which will cover your mortgage costs if one of you loses their temp job?

Conrad

A couple of lenders can assist agency workers where you have a track history, but be aware a lot of my fellow brokers might not know which lenders - do not get turned down by for example Nationwide as this may reduce your chances. All the best.