Can I get a mortgage on Contract work?

meki

My Fiance and I are looking to buy a house. Back in June I had my redundancy annouced and will loose my job end of Dec.

With the redundancy package we will have enough for a deposit. I've seen some attractive crontract jobs and reluctant to apply as I'm worried we won't get the mortgage we want.

Other half is employed full time for the NHS, so his job is safe.

Will we be impacted if I do go on contract work?

Paully232000

Yes it is possible, but i would use a broker who knows what they are talking about, the lenders criteria, who to contact and who to not bother with.

I am on a fixed term contract and partner full-time employed and we have just secured a mortgage and moved a few weeks ago.

My lender, Accord, said had to either have 12 months on the same contract or 12 months to go on said contract or a history of contracts in similar lines of work/industry.

Other lenders will have different criteria.

Good rate too, 5 yr fixed, 2.99%, 75% LTV.

Prothet_of_Doom

I keep getting emails from a company who specialise in that sort of thing.

Contractor Mortgages made easy.....
01489 555 080
[EMAIL="michelle@contractormortages.co.uk"]michelle@contractormortages.co.uk[/EMAIL]
http://www.contractormortgagesuk.com/


I guess that they would not take into account a contractor rate if you haven't been doing it a year, and haven't any accounts, but they would do it based on the One full time position, and maybe take into account a small proportion of your predicted profit.