Job and Mortgages

Sunflower22 · 23 March 2013 at 2:55PM

Hi,
My hubby and I want to move. When I phoned our current mortgage company a few months ago to ask if them would include temporary contact jobs in getting a mortgage I was told they would providing I have 3 months wage slips. My hubby has a permanent job and I have just started a temporary 3 month contract job. When I phone the mortgage company to get a MIP, they now say they will not consider my wage and can only give us a mortgage based on my husbands wage. I understand why they do this, but is there any company's that people know off which will consider temp contracts, as we can't move otherwise. I am currently still seeking a permanent job, but most are temporary.
Any suggestions?
Thanks.

ACG · 23 March 2013 at 3:26PM

None that i know of that will do it with a 3 month contract. Possibly a 12 month or if your contracting but have been there a while and its been renewed a couple of times. But i think you will struggle otherwise.

HappyMJ · 23 March 2013 at 3:32PM

You really need a permanent job...but even then they can be terminated on very little notice. I would only declare the job as temporary if is specifically asked for in the application otherwise I'd just declare it as "a job". I got my mortgage with RBS with a temporary job after only having held the jb for 2 weeks. You need to really read the questions and not volunteer any information if it's not asked for. However, the need for 3 months of pay slips still applies so I'd wait until you have the job for 3 months before applying. I gave them the last 3 months of my payslips which covered several temporary positions.

Sunflower22 · 23 March 2013 at 6:17PM

Thanks for your advice, much appreciated. I've only been there 3 weeks, but when I phoned to get MPI they specifically asked.

kingstreet · 23 March 2013 at 6:39PM

You can ring a lender three times and get three different answers to the same question. Did they tell you you couldn't have mortgage payment protection?

Sunflower22 · 23 March 2013 at 9:27PM

No, it wasn't mentioned. Just told that I had to have had a fixed term contract for more than two years or have a permanent job for one month. Something that seems to be a impossible task in the current job market.