Change Of Borrower / Temporary Agent Employment

rooney005

Hi all,

I was after some advice or some experienced views on a potential issue...

A mate and I own a house together to which I have more equity in. My girlfriend and I are proabably going to buy him out later this year but here lies my question; my girlfriend is in full time employment but on a 12 month temp contract. prior to this she was at another company on a 12 month contract and prior to that she was in full time employement as an empoyee of a company. This would be her first mortgage. She has a small credit history of credit cards etc but no late payements.

If we were to do a change of borrower with our current mortage provider, would this be an issue or would we need to check into anything first?

FYI, Im in full time employement and in theory 4 x my sal would cover the oustanding mortage.

Mortgage outstanding is approx £210k (25years left)
House value is approx £270 - £280k (conservative est)

Any feedback or advice welcomed!

Cam

Let_Us_See

In practice if your income alone can cover mortgage then your girlfriend can be joint applicant with no declared income - simple.

Even so, with one full 12 months contract finished and another 12 months in place there are lenders willing to consider. However, best keep it simple and sane, and base application only on your income.