Joint mortgage with one permanent/one temporary job

evansc1

Hi all, first post here.

Myself and my wife are looking to get on the property ladder.

I am in a permanent role on 18k a year and my partner is currently on 15k (with 9 months remaining on the contract). We are looking at a range of between 125k - 170k value house with a 5-10% deposit.

I think I know the answer but;
Would we be able to get the mortgage as two workers or would it just be classed as one worker?

My salary is able to cover the mortgage costs if she was to not find employment after her contract has finished.

Thanks.

Dave_Ham

Hi - welcome to the forum...

Some lenders will accept both forms of income, some will not.

Typically, they will want to see consistency in similar employment so it is likely to get another contract after this one.

6 months is the cut off on some banks also.

If you use a broker they should know, if you go directly ask the question (and make sure you trust the person giving you the answer in branch or on phone) and do not let them credit search you first.

Your desired amounts are within most lending limits but will definitely require both incomes...

Good luck

casslass

Hi currently in the same position. My partner works as a contractor and has only does this since June 2011 but has had his contract extended. Just started looking at flats now but need to fine a good broker for advice to see what lenders will be more appropriate for our situation.