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Chances of getting B2L mortgage whilst on Fixed Term Contract
lvm
Posts: 1,544 Forumite
So...as of the end of the this month, I will have been made redundant.
Plan was to buy a B2L in October on 75% LTV. Really don't want to do 60% as with redundancy I'd have a decent amount for two B2Ls.
I am going through 2 other business' payroll as an employee with a total income of £14k (£6.5k and £7.5k each) which was to boost my income for any mortgage application (was considering moving myself so would have helped with the salary multiples possibly).
Anyway...there's a job advertised I'd be perfect for but it's a 12 month fixed term contract. What do most B2L mortgage providers think of this as this would be my main job? If it wouldn't be thought well of I'd be looking at holding off for a permanent role elsewhere as financially I'm not in a rush but I'm aware that being in a job only a few months wouldn't look great if there's a probationary period etc.
Been hoping for redundancy for ages but it's come at the worst time ever!
Totally confused now and don't know what to do for the best!
Plan was to buy a B2L in October on 75% LTV. Really don't want to do 60% as with redundancy I'd have a decent amount for two B2Ls.
I am going through 2 other business' payroll as an employee with a total income of £14k (£6.5k and £7.5k each) which was to boost my income for any mortgage application (was considering moving myself so would have helped with the salary multiples possibly).
Anyway...there's a job advertised I'd be perfect for but it's a 12 month fixed term contract. What do most B2L mortgage providers think of this as this would be my main job? If it wouldn't be thought well of I'd be looking at holding off for a permanent role elsewhere as financially I'm not in a rush but I'm aware that being in a job only a few months wouldn't look great if there's a probationary period etc.
Been hoping for redundancy for ages but it's come at the worst time ever!
Totally confused now and don't know what to do for the best!
0
Comments
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There are lenders that will consider any applications with no minimum income requirement - best bet is to speak to a broker to discuss your options.0
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