Mortgage Pre-Approval With Job Offer Letter/Contract

dpayne178

Hi,

I'm just about to finish university, and have a job offer/contract for £42k. I'm fortunate enough to have £20-25k from my parents for a deposit and am hoping to get a £150k mortgage (£170k property) to get on the housing ladder as soon as possible.

I have a good credit rating, credit card and overdraft for 4 years which I've paid off every couple of months, along with other accounts (phones, utilities), all with no bad marks on my credit report.

I appreciate that the mortgage market is very tough at the moment, but I was wondering if you think it will be possible to get a mortgage any time soon, especially given the recent New Buy scheme from the government.

Any advice would be much appreciated and very helpful!

Best wishes,

Daniel

dawyldthing

best advice - avoid the right to buy scheme as look in the local area as to what houses are really worth on the open market and you'll know what your house will be worth in a few years. Better to buy an older house and do it up your way, there often built more steadly with less problems than new builds

dpayne178

Thanks for the advice

I'm looking for somewhere inside the m25, and there's not that many new builds in the new-buy scheme in the budget I'm aiming for, so I'll probably end up looking on the open market too.

I'll definitely start reading up some more on developer reviews and that stuff though.

Anyone have any advice on my chances though, before I get my hopes up too high?

Thanks!

sjlou

In 2007 this is how my husband and I got our first mortgage, I was in FT employment and he was finishing up at uni but had a FT job lined up.
Nationwide just requested a letter from the employer stating the wages and term of employment (ie not fixed term).

Not sure how likley this will be as a sole application, but is possible.

Go speak to a broker to get a better idea. Good luck!