Mortgage for temp worker

nikkiandmidgets

Does anyone know which companies are sympathetic to temp. workers? I am looking to buy a property either to stay in or rent out but am currenlty on a years temp. contract. Returned to work in November after 2 years maternity leave, then changed from permanent part time to temp. full time work within Shell (My first employer couldnt offer me full time hours after my 3 months part time on returning to work). I was previously employed by Shell for over 10 years then paid off and re-employed by the company my work was outsourced to before quitting and changng to full time work the next day. I started temp work mid March.

I will be able to put a deposit down.

Thankd for any info\advice...

MortgageMamma

Yes there are one or two lenders who would consider this

how much deposit do you have? what is your credit rating like? will you be buying alone?

nikkiandmidgets

My credit rating took a bit of a bump just over a year ago with some late payments due to marriage probs and me not working and only haveing my family allowance. Have paid everything fine for last year apart from maybe being a couple of weeks late on my credit card payment but I always pay, its just I forget and havent got round to filling in dd form and then posting it.. Got a credit report recently and I have 1 item unpaid from several years ago. I can afford to pay it off - its a catalogue I forgot about when I moved house. Our current house sale date is 6th July and the plan is to buy a property in my name, as there is a chance we may be moving abroad so dont want to buy a dearer property till we know whats happening. plus if we do move abroad then it will be somewhere for my mum to stay as she currently stays with us as she is my childcare. Would have at least £20,000 to put down and have more if I need although we are hoping to keep the profit from our house for our move or a big house. Hope that all makes sense...!

MortgageMamma

Ok - the missed payment from several years ago sounds like it went to default? what year was it and how much?

As you have a few missed payments you really need to speak to an adviser - this could very well fit with a high street lender, or it may be a near prime case but without full details its hard to tell at the moment.

There are three lenders I have in mind who could consider you, but I dont want you to rush off and go applying to them as you may not fit their criteria, and if you continually get credit checked it could damage your credit rating

the lenders are Accord, Chelsea Building Society and Skipton BS. Out of the three I think Accord and Chelsea would be a better option as they cater for mild adverse/near prime

I'd suggest you get some professional advice from a whole of market mortgage adviser before you proceed. try and find one who will not charge you a fee if poss.

MortgageMamma

nikkiandmidgets

Hi, the catalogue one I moved house and forgot all about it as I was just finishing up at work for maternity leave so must have been about 2-5-3 years ago. The defaults were not on joint mortgage, husband continued to pay that, but were for credit cards, unsecured loan, and Littlewoods. They went about 2-3 months behind then I paid all arrears off and have paid by direct debit since then. If I didnt qualify for prime, then who comes out top for sub prime given my job status - would it be Birmingham Midshire?

MortgageMamma

I doubt birmingham midshires would do it, I've never known them to take temps but i could find out for you

When you make your mortgage application or speak to an adviser it would be extemely useful if you could take your credit report so they can take specific notes of arrears, amounts, dates etc etc - the tiniest change in when/amount of arrears can send you from prime to near prime to sub prime etc - the mortgage market is very complex with over 50,000 products to choose from, its not a case of one size fits all

nikkiandmidgets

Ok thanks, Can you advise if my husbands finances affect me and vice versa if we are not including each other on mortgage applications? We stay in Scotland and will be singing docs to allow partner to buy house on their own. i.e. any finance applications he does, any adverse credit he may have etc...

MortgageMamma

Are you financially associated with him? have you ever held a joint account or made joint credit reference searches? If so, then you will be financially associated.

If your husband has problems with his finances, and he is not going to be party to the mortgage application, then it may be a good idea for you to contact experian and equifax and complete a notice of disassociation. This removes your association with him and eventually will impact on your credit record.

Whether this is necessary or not depends on the severity of his financial problems