University researcher on contract

Mortgage_Mark_2

Note to self: do not feed the troll.....

There are regular brokers who will place an application on the basis of a certain lender not checking things.

I'll leave it there, I'm off to my job as a contractor specialist broker, dealing with people who have followed the advice of people like yourself and ruined their chances of proceeding elsewhere.

All the best!

Zoology_Dragon

I'm not going to get involved in name calling but it is true that academics on contracts don't need to use a contract specialist broker. My husband and I are academics, as are most of our friends, all of us have obtained regular mortgages either through regular brokers or by going direct to the lender. It's nothing to do with lenders not checking things either, more that there are a number of lenders who accept fixed term contracts (NOT the same as being a contractor) and as long as you fulfil their criteria with respect to contract length, etc, there isn't a problem.

Mortgage_Mark_2

Zoology_Dragon wrote: »

I'm not going to get involved in name calling but it is true that academics on contracts don't need to use a contract specialist broker. My husband and I are academics, as are most of our friends, all of us have obtained regular mortgages either through regular brokers or by going direct to the lender. It's nothing to do with lenders not checking things either, more that there are a number of lenders who accept fixed term contracts (NOT the same as being a contractor) and as long as you fulfil their criteria with respect to contract length, etc, there isn't a problem.

Absolutely correct. Nobody ever said you had to use a contractor specialist broker. The reason I suggested it was a good idea is that, unlike Halifax, many lenders do class fixed term contracts as 'contractors', and even those who don't do also have quirks to their lending criteria that a broker can assist with.

Like I said - no necessity to use a broker at all, let alone a contractor specialist one, but if you're worried enough to come onto a forum for advice, it's well worth speaking with one, even if just to put your mind at rest.

Zoology_Dragon

Mortgage_Mark wrote: »

Absolutely correct. Nobody ever said you had to use a contractor specialist broker. The reason I suggested it was a good idea is that, unlike Halifax, many lenders do class fixed term contracts as 'contractors', and even those who don't do also have quirks to their lending criteria that a broker can assist with.

Like I said - no necessity to use a broker at all, let alone a contractor specialist one, but if you're worried enough to come onto a forum for advice, it's well worth speaking with one, even if just to put your mind at rest.

That makes more sense, thanks for clarifying It could certainly be a good idea for the many academics who are on continual very short term contracts lasting just months at a time.

unhappy_shopper

We have had mortgages from H**C, W00lwich and H@lifax over the past few years, even when I was employed on academic fixed term contracts (as short as 18 months) as post-doc. My OH is also an academic. All we had to do was demonstrate that we had worked continuously for a period of time, without any breaks, in the same field/type of employment.

I think it might be worthwhile for the OP to meet the mortgage advisors at the banks to evaluate your situation and ascertain whether you meet the banks' lending criteria. HTH.

aha77

Mortage Mark:

I am not a troll. It is quite clear from my first post that I was providing the OP with my own recent experience is obtaining a mortgage in very similar circumstances. Others have also done this in subsequent posts. In contrast, you have provided misleading information to the OP about the difficulty they will have in obtaining a mortgage without specialist (and no doubt expensive) advice. You first post suggested the OP contact a specialist, yet in your last post you say that you never suggested they contact a specialist. I will concede that I incorrectly called you incompetent and a fool. This is not the case. You are in fact duplicitous and disingenuous. What you have been doing is touting for business, as revealed in your second to last post. Many brokers post on this forum and give very useful advice. I myself found them very helpful when I was looking for a mortgage provider. As a specialist broker you should know that the OP employment situation is relatively straightforward and your services are not required.

To suggest that people like me ruin peoples chances of obtaining a mortgage is laughable. All I have suggested is that the OP speaks to various lenders to determine their specific criteria and ascertain which institutions would be viable. Some, for example the CO-OP, are direct only so brokers do not have access to their products, so a combination of a broker and a bit of research is sensible when deciding probably the most important financial transaction of their lives.

You should be ashamed how you have tried to lead the OP with blatantly untrue information. To insinuate that some lenders don't check employment details is ridiculous. No doubt you were hoping for a private message from the OP at some point.