Need urgent help before applying for a mortgage!

Heisenberg87_2

Me and partner are about 4/6 months away from having enough cash to put down for a deposit. The problem we now face is that my partner has been offered a new job (£8,000 more a month) then her current job. This new job however is for maternity cover so will show up as temporary on her wage slips. The likelihood of this lady coming back are very slim but we know a lender won't really care about that. We have been told by relatives that a lender won't like that this job states temporary. If anyone has has a slimier situation please let us know how it effected you. If anyone needs anymore details from me please let me know...

Kind regards

Luke

hcb42

is it with her same employer but a step up or a new company?

If it is a step up, she would still be permanently employed but having a temporary increase

I ask as you say the lady isnt coming back, trying to make sense of how you know that if its a new company

If it is a new company though, then it might not be the right time to take the role, depends on what is more important, the cash or getting a mortgage in 4/6 months..

Heisenberg87_2

hcb42 wrote: »

is it with her same employer but a step up or a new company?

If it is a step up, she would still be permanently employed but having a temporary increase

I ask as you say the lady isnt coming back, trying to make sense of how you know that if its a new company

If it is a new company though, then it might not be the right time to take the role, depends on what is more important, the cash or getting a mortgage in 4/6 months..

It's with a new company. I know, it's just as first time buyers we have worked out a#! off and now when we are nearly there this happens. Never ending. Thanks for your advice...

smnberryman

I'd take the 8 grand extra a month

mrginge

smnberryman wrote: »

I'd take the 8 grand extra a month

I'm not getting out of bed for less than 10

Solsol

Similar situation for me I'm on a temporary promotion so I get a temporary cover allowance which will finish at the end of September. The word temp is on my payslip so the MA said straight away that she wouldn't be including this extra payment in the application.

I was fine with it as we wanted to make sure we can afford the repayments without it. My temp promotion might be extended but in the meantime I'll put the extra cash aside for improvements when we eventually move in.

amnblog

Perhaps the smart move is to wait until you see what develops employment wise after the maternity cover before you go trying to purchase property.

FlyingCat

£8k more a month?! Is this really a question? Assuming that is correct and not meant to be £8k a year. It's a no brainer.

in 6 months that would be about £20k or more after tax (assuming approx 40% is left post tax, NI etc), put that extra on a deposit!

If you were in the middle of buying a house and applying for mortgages etc, I would say it needs some consideration, but as you are still saving, take the job. However if it's £8k more a year it's not as clear cut, I would still take the job.