Fixed term jobs and mortgages?

taka

I was wondering how fixed term contracts are viewed by lenders these days? I have worked for my employer since 2001, however I was made redundant last summer, was unemployed for a month then started a different job with the same employer. My current post has a year's funding left.

I have a 5 yr fixed term mortgage with Nationwide that will end in the summer and I will move onto their BMR. Mortgage is just over 37k, current value of my flat is maybe ~£110-120k. I have no debts other than my mortgage, have some savings and have a good credit history.

Chances are I will stick with the BMR, however I was just wondering if I'd even be considered by lenders, given my fixed term job contract?

Thank-you!

Dave_Ham

Hi there,

Although lenders are much more uncertain and wary of their lending, should you wish to remortgage other things being equal you will be fine.

Given your loan to value, remaining contract length and previous consistent (and assuming good credit score) you will be fine.

Either see a broker or do check the lender criteria before applying, should you wish to change which in the short term would suggest you would not.

All the best