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Mortgage with small deposit

Arty-Ziff · 2011-01-09 00:22:50

Hi all Here's my situation... I currently earn around £55k per year. I am in a very stable and secure job, and have been for around 3 years. Within the next couple of months I will have finished paying off all my credit card/ loan debts which I accrued through university and whilst I was on a lower income for a few years.…

Comments

beecher2 Posts: 3,677 Forumite

9 January 2011 at 10:43AM

Arty-Ziff wrote: »

What I wondered was whether or not a mortgage company will take into account an applicants job stability and the fact that they would have no problem making the repayments. It appears the answer is no.

They will take both of these into account once you have the deposit saved, as if an applicant is on a temporary contract or a probationary period, they won't have much of a chance of getting a mortgage. They also look at affordability in their calculations.

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