Is it possible to broker a mortgage with only 6 months from Second Job

Monty_Steedman

Hi there.

Myself and my wife are very keen to take a first step on the property ladder in Surrey.

My wife as the main applicant has had full time job for over 10 years within the NHS and earns 40k per year.

My problem is that I am currently on a part time permanent contract within the NHS earning 15k.
I am also employed via the same employer on a 'Bank Contract' which to my knowledge would be akin to a zero hours system. I earn an additional 23k via this employment. I have worked in this setup for 6 months.

I have been advised by one broker that they would only be able to broker a mortgage that included income from my second job if I had evidence of at least 12 months employment.

My main question is: Is it possible to get a mortgage for us with less than the 12 months stated?

Kind Regards in advance.

- Monty.

ACG

Speak to another broker.
I do not know the answer, but I suspect there will be lenders prepared to accept it.

Daniel_Sparkes

Hi Monty,

You'll find that whilst majority of lenders may not be accepting of your complete employment circumstance, there would still potentially be a selection of lenders who'd consider this.

The case would need to be positioned to the lender with 10% accuracy and thoroughness to ensure you get the best chance of a successful application.

Any questions just let me know.

MortgageMamma

Hi Monty








its impossible to say without knowing what your planning to borrow, how much deposit you have, what debts you have etc. You may not even need to include your second job. Should you need to, the first lender that springs to mind for this insists the second job has been in place for 12 months and is permanent. But there may be lenders than will take perhaps 50% of the income from your second job into consideration. You need to speak with another broker for a second opinion, get the max affordability calculations using just your wife and your own main job, then max affordability calculation using all of your income. Don't forget you can include some benefits such as tax credits, child benefit, child maintenance with some lenders if you receive any of those it could boost your affordability further.

ExpertAdvice

Thats correct, majority of lenders require atleast 12 months of record for Nursing Bank. If it was a normal 2nd job with fixed hours, 6 months would have been fine. However, as you correctly mentioned that Nursing Bank is considered to be a zero hour contract job and therefore the lenders require a 12 month track record.

rtho782

Daniel_Sparkes wrote: »

The case would need to be positioned to the lender with 10% accuracy and thoroughness to ensure you get the best chance of a successful application.

Only 10% accuracy? Just put a ballpark guess in then!!