Mortgage delay due to employers reference

MNB64

Hello,

My partner and I have recently agreed a purchase for a property. I am on a temporary contract, (6 months into a 12 month contract at the time of application, as per the mortgage provider's lending criteria) My partner is on a permanent contract.

We have received our valuation, which was fine. My Employer provided a reference that stated that 'it is likely that my contract will be extended in June'.

I chased it up with my broker this morning, who confirmed that the provider have contacted my employer again to get further information.

My manager, who gave the original reference is on annual leave until next week, as is the broker now. So I called the provider to find out what it is they need & if anyone else can provide this. They said that this is between them & my employer & they can't tell me what it is that they need. They also confirmed that they would not be able to accept any reference from my manager only our personnel department. They confirmed that they have contacted the personnel department & I should chase it up with them. So I called HR who said that they have had no contact from the mortgage provider.

I'm a bit worried now, I'm not sure what more information the provider could need. The only thing I can think is that they would like my employer to state that my contract will be extended, rather than it is likely. But then seeing as she hasn't done this then I would have thought that it would have just been declined. Or maybe they would like the information to come from HR like they said, but then it would just mean that my manager will forward her response on to HR, to forward on to them, as they would take instructions on my contract from her. But this seems a bit pointless...

Does anyone have any ideas as to what further information they might need? And why they can't share with me what this is?

I appreciate that I will probably have to wait until the broker & my manager get back from holiday to find out, but I think that this is the only bit of information that is holding up the application & the wait is killing me!

amnblog

Two things you need to be aware of:

1. Lenders are particular about who they obtain the reference information from within a business.

2. Employers frequently misunderstand what information the lender is requesting which then requires the lender to go back to them for clarification.

It sounds like you will not progress this before Monday.

In the meantime, stop worrying about it.