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Contract running out and need a mortgage
jojorose
Posts: 52 Forumite
I am a contract worker in the charity sector with six months to go on this current agreement. There is no guarantee that I will be re employed but likewise none that I wont. Prior to this i had always had permanent posts and obviously I am looking for work elsewhere now but I need funds fairly soon and wonder what options are open to me? I also went part-time two months ago and hadnt seen below crisis looming.
Scenario: My relationship has broken down, my partner had bought a share in the house and I dont believe I can buy him out. The house is on the market but the capital I have is not enough to buy again in my home town. Would anyone mortgage me? Im not thinking a lot. I have 80,000 and I could use £25,000. I am 50. I presuming im not going to get a usual mortgage because of my contract status?
I know I cant afford to stay at this address, that had never been the plan it was just to see my boys through school. This now done.
To be honest I am a little scared. I have always been able to secure funds no problem and now well...................
Scenario: My relationship has broken down, my partner had bought a share in the house and I dont believe I can buy him out. The house is on the market but the capital I have is not enough to buy again in my home town. Would anyone mortgage me? Im not thinking a lot. I have 80,000 and I could use £25,000. I am 50. I presuming im not going to get a usual mortgage because of my contract status?
I know I cant afford to stay at this address, that had never been the plan it was just to see my boys through school. This now done.
To be honest I am a little scared. I have always been able to secure funds no problem and now well...................
For some people enough will never be reached.
0
Comments
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Why don't you rent until things settle down?0
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I cant afford to rent, my new wages are low. Even staying here with only a £100 mortgage it is going to be hard and as Ive said that is not an option or fair to my ex.For some people enough will never be reached.0
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I'm not sure what advice to give if £100/month is going to be difficult. Can't you use the £80,000 capital you have, or at least the interest from it?0
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Wow I phoned Martin's mortgage team and I am apparently ok to mortgage. Not only that if I wanted to I can stay in my house which I thought had been a complete no go.
Cant believe it am so impressed. Thanks Gavin!For some people enough will never be reached.0 -
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