2nd job mortgage

FinanciallyClueless

Hi,

I'm soon to be starting a new full time job and the contract states that I can't do any other work. However, I intend to carry on at my existing job part time. My question is, would mortgage lenders still consider my second part-time job in assessing me for a mortgage?

Andy_St

I doubt they will look at the clauses in your contract? though if your intending to breach your contract i wouldn't be drawing attention to it.

betmunch

Depends on the lender, how long you have done your current job, and which you are earning the most from.

As well as all the normal difficulties

Goldiegirl

If a lender was to consider income from two jobs, they'd look at things like sustainability.

For example, if you were working 7 days a week, that is clearly not sustainable over the long term, and it'd be unlikely that they'd include the second job income in their calculations

They'd also consider reasonability too. If you were working 9 - 5 in the main job, and the second job was evenings, starting at 5.30 at a location 20 miles away, it wouldn't be reasonable for you to get there in time.