my weird case of mortgage

myright

Hey guys I've been working in the same place for 14 months as a temp. I have a further 7 months temporary contract extention at the same job.

Could I apply for a mortgage as a temp. I will be first time buyer

Alternatively I asked a sibling to get the mortgage out for me. Could it be on my name? As I can make payments as well with the temp job. As my sibling is on permanent employment.

amnblog

You may get lending on your contract subject to other factors.


You cannot get someone to apply 'in your name'.


A joint mortgage may be possible.

myright

Thanks so for a joint mortgage take into account both of our salaries etc?

Also could the other sibling at some point get of the mortgage In the future?

Lastly to help to get a mortgage just on my name could I have my sibling a guarantor. . would that help?

ACG

You may be able to do it now in your own name subject to everything else - but most lenders want 6 months remaining on contract at application stage...

If your sibling goes on the mortgage with you and you lend based on both of your incomes it would be difficult for them to come off in the future unless your income alone is sufficient. I would suggest against putting them on the mortgage unless they really need to, if they do go on you need to explain that they may be stuck on the mortgage which in turn may prevent them buying another or at the very least how much they can lend in future.

A guarantor may be an option but not many lenders offer guarnator mortgages anymore so I would think this is unlikely to help - but may.

Speak to a broker, see what you can do in your own name. If its enough everyone is happy, if not then you can look at other options.