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Mortgage question and employment
inatdeepend
Posts: 101 Forumite
Hoping someone can give me some advice and whether I'm worrying unnecessarily.
I've found a property I like, and ready to make an offer. Already spoken with a broker to see how much could realistically afford to borrow. Haven't got a DIP as didn't want credit mark. I'm looking to borrow around 3.5 times salary and have a 10% deposit. Have checked my Equifax and Experian and credit history is all fine.
However I have a issue(?) with employment. I decided at the end of last year to take a break from work and look at working for myself. I left my job in early January but it didn't work out as I hoped. So I got myself another in June working pretty much in the same area as before. I'm on a 6 month probation due to finish in mid-December which is going to be extended (I'm already being assigned to projects for next year and my boss has already said he has no plans to be rid of me!)
Just wondering how this will affect my chances of getting a mortgage and whether it would be worth waiting until after probation period before applying for mortgage? Or whether it's not really a problem?
I've found a property I like, and ready to make an offer. Already spoken with a broker to see how much could realistically afford to borrow. Haven't got a DIP as didn't want credit mark. I'm looking to borrow around 3.5 times salary and have a 10% deposit. Have checked my Equifax and Experian and credit history is all fine.
However I have a issue(?) with employment. I decided at the end of last year to take a break from work and look at working for myself. I left my job in early January but it didn't work out as I hoped. So I got myself another in June working pretty much in the same area as before. I'm on a 6 month probation due to finish in mid-December which is going to be extended (I'm already being assigned to projects for next year and my boss has already said he has no plans to be rid of me!)
Just wondering how this will affect my chances of getting a mortgage and whether it would be worth waiting until after probation period before applying for mortgage? Or whether it's not really a problem?
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Comments
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It would probably be better to wait until the probation is over.Changing the world, one sarcastic comment at a time.0
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You need to select the right lender so engage a broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Do you really mean what you've stated?inatdeepend wrote: »I'm on a 6 month probation due to finish in mid-December which is going to be extended
Your probationary period is going to be extended?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
inatdeepend wrote: »I'm on a 6 month probation due to finish in mid-December which is going to be extended
Are you on probation with a permament contract or a 6 month tempoary rolling contract?
If it's the latter than getting a mortgage is going to be a challenge.0
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