Getting a mortgage with slightly strange job circumstances?

sazzle0987

Hello,


I am looking for a bit of advice from mortgage brokers or others with experience. Would be very grateful if anyone can comment on these particular circumstances with regards to being able to get a mortgage.


My situation is that I have a fairly unusual job where I tend to work e.g. 9 months on, 3 months off. When I am working, I have zero expenses (travel, accommodation, food etc paid for). When I am not working I can stay for free with family so it’s basically holiday time.. so expenses are as much as I can control them i.e. if needed can be extremely frugal.


I am looking to find my own place to buy so that when I have my 3 months off, I have my own place to go to. And possibly rent it out in the future.


I would have at least a 25% deposit available to buy something modest with money left over for contingency and doing up a house a bit.


However, all my work is fixed term contracts based out of the UK so although I have done the same work for a while it is not a continuous stream of payslips to show as I've had breaks between assignments. It has been like this for the last almost 10 years (always with same company except for when I took a break to study and supported myself for a year).



My intention would be to try to buy a house during one of my breaks.


I would probably be able to get my employer to show that I could have another contract on a certain date in future and that I have a long work history with them and could easily placed into a new role. But they won’t be able to give me a permanent contract or anything like that.


I am assuming that the best way to try to get a mortgage will be through a broker as I don’t fit into the usual type of first time buyer, I think. Would that be a fair assessment? Any ideas on whether I am living in cloud cuckoo land with this type of work history? Are there other things that would be relevant to tell a broker?


Thanks very much in advance, really appreciate any help you can give.

amnblog

This is manageable.

A lot depends on where you work and the currency you are paid in.

Options have dropped due to recent legislation changes, but you should find a route via a broker.

sazzle0987

Thanks very much. I'm paid in GBP in the UK (also pay tax and NI here) but work outside the UK in lots of different places (where I don't pay tax). Does being paid in the UK make it easier? All my savings etc are also in the UK.

Thanks!

amnblog

Yes, being paid in gbp and paying UK tax increases options.

Still one for a broker.