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HELP First time buyer????
senny1974
Posts: 2 Newbie
Hi,
We've applied for a mortgage as a first time buyer on the right to buy scheme. It was approved, and then went to the underwriter. I have just changed my work contract onto a zero hours bank nursing but on the same ward same hospital etc. We've now been told that due to this the mortgage may get declined!!!. I don't know why because now i'm earning more money and working more hours than before. I'm worried now. If I'd of known this I would of remained on my original contract (earning less money!!) Can't figure this out, it seems ridiculous please help??
We've applied for a mortgage as a first time buyer on the right to buy scheme. It was approved, and then went to the underwriter. I have just changed my work contract onto a zero hours bank nursing but on the same ward same hospital etc. We've now been told that due to this the mortgage may get declined!!!. I don't know why because now i'm earning more money and working more hours than before. I'm worried now. If I'd of known this I would of remained on my original contract (earning less money!!) Can't figure this out, it seems ridiculous please help??
0
Comments
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You have no security of income on. Zero hours contract.
Borrowers should not change employment circumstances during an application process.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 -
The same would have happened if you'd decided to go self-employed half way through the application process.
Did you ask anyone's advice, such as a mortgage broker, before you did this?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
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