Agency worker looking for mortgage advice ?!

Hannah_17

Hi

Looking for advice, story sharing from other successful/or not agency workers. Or from anyone who has something useful to say

Im an agency worker, ive been in work now for a year. With 2 different agency companies. Im now working with a regular client an have been doing so full time since last june. The money is reasonable enough, my income before tax this tax year is looking to be around 20,000. My boyfriend has a stable full time permanent job that he's been in for 9 years. He earns approx. 18,000 in a tax year.

We're really keen to buy a house together and need a mortgage. We're 1st time buyers and our deposit is looking to be 12,000 at the moment. I've been looking at all the different mortgages available and most seem to want at least 90% LTV We have our eye on a new build house and i've discovered that some banks are even harsher on lending to new builds and some require 20% LTV

Im just wondering what are our chances? How do banks view agency workers? Will this impact our chances?

Any advice greatly appreciated. Thanks

Dave_Ham

Hi there,

I have personally sourced and have been successful in achieving many mortgages where on the face of it people have more challenges than you.

There are lenders that will accept agency workers, so long as the work has been consistent and is sustainable.

You can get upto 90% mortgages on new build houses (not flats)

Obviously there are many other variables to consider including credit score and would be prudent to get your reports printed.

Your deposit is solid, although obviously depends on what purchase price you are looking at and then potential stamp duty and solicitors costs.

Do not just apply to banks as you do not want multiple scores, either find a broker or if you wanted to go directly, check with the bank re agency workers first...

Get as much free advice as possible and here is a good place, its a daunting project and many underestimate how stressful the house buying process can be.

Do not let Estate Agents bully you, first time buyers are hugely desireable and necessary to the home buying chain...

Hannah_17

Thank you Dave for your advice. It makes me feel better to know we're not the worst candidates out there.
We're going to book an appointment so we can get some advice from our current bank and see what they say. Keeping all fingers crossed.

Dave_Ham

You are most welcome.

Just remember your local bank can only tell you their policy ie that specific bank.

Do not let them credit score you, without being sure they have an offering that you are applicable for.

If they do a search and can only use 1 income then not worth it for you..

All the best