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Getting a mortgage with bad employment history
charliev123
Posts: 3 Newbie
I've just started a new job and I'm looking into mortgages, I'm still learning. I have money from family to pay for most of a property, though I don't have a property in mind yet, but may still need a mortgage for the rest.
Before this job I have been unemployed for many years.
Would this be a problem applying for a mortgage? Even if I only wanted to borrow a smaller percentage of the property?
Before this job I have been unemployed for many years.
Would this be a problem applying for a mortgage? Even if I only wanted to borrow a smaller percentage of the property?
0
Comments
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Some lenders do not care how long you have been employed for, so long as you are employed now. Either check lenders criteria or consult a broker but if thats the only issue, it shouldnt be a problem.
Do you have any missed/late payments or anything? If not, then dont worry about it there will definitely be lenders available.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you for your advice. I don't have any late or missed payments, but then I ve never used a credit card, so I don't really have any credit history.0
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Dont worry about that too much. I think you should be able to get a Mortgage easily enough, there may be the odd lender who isnt interested in you being on their books but in the main you should be fine.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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