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Could I get a mortgage?
H345
Posts: 6 Forumite
I've read online that part of the criteria for getting a mortgage is that you should have been in your current job for at least two years, I have been in my current job for nearly a year and previous to this I had periods of unemployment and short term jobs.
On the positive side my current job is permanent, I have a 10% deposit and no debts etc, some of what i've read say that at present your taken on a case by case basis, others say you must have at least two years with that employer.
Has anyone got any experience in this?
On the positive side my current job is permanent, I have a 10% deposit and no debts etc, some of what i've read say that at present your taken on a case by case basis, others say you must have at least two years with that employer.
Has anyone got any experience in this?
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Comments
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Much more info required. How much do you earn? How much do you want to borrow?0
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A longer employment history helps to support your application but a short one doesn't mean you will be turned down. I've done mortgages for borrowers who haven't even started a job yet.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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I earn £15500 and want to borrow between £27000-£36000 (a rough estimate going on the houses currently for sale that i'd be interested in).0
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kingstreet wrote: »A longer employment history helps to support your application but a short one doesn't mean you will be turned down. I've done mortgages for borrowers who haven't even started a job yet.
Thats good to hear, I was hoping that my deposit along with my job being permanent would count for something.0 -
Ive been in my current role, part time since last May then full time from last Sept...does this full amount count? I was told its a minimum of a year0
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Agree with you there!
My mortgage is around £200/month less than my rent was.Grocery Challenge £211/£455 (01/01-31/03)
2016 Sell: £125/£250
£1,000 Emergency Fund Challenge #78 £3.96 / £1,000Vet Fund: £410.93 / £1,000
Debt free & determined to stay that way!0 -
There is no industry minimum. Some lenders have a minimum, some don't.callmechar wrote: »Ive been in my current role, part time since last May then full time from last Sept...does this full amount count? I was told its a minimum of a yearI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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