Agency/Temp Worker - How to get a mortgage

y95kirks

Hi,

I have found a property I want and have the 10% deposit that I need.

The thing is I have been working through an agency for the past 12 months as a quantity surveyor. My contract gets reviewed every 6 months and has just been extended for a further 6 months.

I am having a lot of trouble getting a mortgage because the banks I have spoke to, say I need to have at least a further 12 months work and that needs to be put in writing.

Does anybody have any ideas?

Stu

ACG

How much are you looking to borrow, how much is the property price?

Is the mortgage solely in your name?
If not is the other person employed?

y95kirks

Thanks for the reply.

The property is advertised at £110K. I am hoping to get it for £105K.

Either way I have the 10% deposit.

The mortgage will be solely in my name

Thanks

ACG

Sorry forgot to include how much is your income?

Dave_Ham

Hi - this will probably require a broker. Many of the banks struggle with professionals on an agency worker basis.

Do not give up hope, this should be achievable.

All the best

y95kirks

My income depends on how many hours I work.

On average I work 44.5 hours @ £18.50 = £823.25-tax = £574.00/week (take home pay)

So annual salary before tax = £42809 (If I didnt take any holidays)

y95kirks

ACG I notice that you are a mortgage advisor, would you be willing to look at this for me in your office time?

ACG

As Dave says i think this will be possible.

y95kirks

I spoke to a broker today who said that if I didnt have written confirmation of a further 12 months employment then it would be virtually impossible

Do you have any recommendations for mortgage brokers?

harvey115

y95kirks wrote: »

I spoke to a broker today who said that if I didnt have written confirmation of a further 12 months employment then it would be virtually impossible

Do you have any recommendations for mortgage brokers?

I am a contractor, but the way it works for my employment is very similar to yours. The only problem I see that you have just recently started and only one extension of 6 months have been granted so far.

Do not fear, there might be solutions.

I would suggest you give a call to 'www.contractormoney.co.uk', they are specialist in this field. I have completed my house purchase at the bgining of this month through them. I am very happy with their service.

y95kirks

I must have tried 10-15 brokers all telling me the same thing, that it would be impossible!!

One option I have thought of is:

I have a mate who owns a building firm who is prepared to write me a letter saying that I have 12 months work with him (even though I don’t).

My wage slips only give the name of the agency and not the company I am actually working for.

When the mortgage company rings up to check will they contact the agency or the company I work for (who the letter will be from)?

Or do they even ring up & check?

Thanks everybody for your advise.

Stu