mortgage application when on temporary contract (which likely will go permanent)

Skye_Spirit

Hi all,

Looking for advice please. I'm hoping to apply for a mortgage next year. I will have a £50,000 - £55,000 deposit. My problem is my current job (civilian police job) is only contracted until next August, although it's likely it will be extended again or go permanent. (I've just had my latest contract extended) I earn approx £19,000 per year plus £2,000 from a second job.
Anyone know if I stand a chance of getting a mortgage with my work situation or am I destined to rent? I'm hoping to borrow around £70,000-£80,000.

Thanks in advance.

Thrugelmir

although it's likely it will be extended again or go permanent

Unfortunately the world is such that employers recruit on employees on a contract basis for good reason. So until you are made permanent officially don't assume. As lenders won't.

thenewbee

Halifax and Natwest look at your track record rather than whether you're temporary or permanent.

Skye_Spirit

Thank you both. I'll maybe make an appointment with an independent financial adviser. Hopefully someone will take pity on me :-)

wrkactjob

Skye_Spirit wrote: »

Thank you both. I'll maybe make an appointment with an independent financial adviser. Hopefully someone will take pity on me :-)

Lots of IT contractors have used

http://www.contractormortgagesuk.com/

They work with people who contract or who mix perm/contract work...

Skye_Spirit

Thanks for the reply and link :-)