Temporary contracts and heartbreak

TadleyBaggie

Lenders will want to know the source of a deposit, once they find out it was via a loan, expect a decline.

Laylaburrows

Even if his name isn't on the mortgage?

lewishardwick

Ok. Stop applying, thinking of loans to cover 'gaps', just take a step back. All you're doing it damaging your credit rating...

Withdraw from the plot reservation, you'll probably lose that money sadly.

Do some planning, get your finances in order. Hopefully your partner will get a permanent job soon. Once they have one, give it a good 6 months before starting to look.

In the mean time, save what you can.

Good luck!

muhandis

I agree. While I can understand that you really want this to happen, it'd be best if you stepped back for a moment and tried to review the whole situation.

In your place I would park the plans to buy now, withdraw from the current deal, speak to an independent mortgage broker about what your circumstances need to be to get a mortgage and work towards that.

It could be something as simple as waiting until your partner has been in the fixed term contract for a minimum period, etc.

I wish you luck!

lewishardwick wrote: »

Ok. Stop applying, thinking of loans to cover 'gaps', just take a step back. All you're doing it damaging your credit rating...

Withdraw from the plot reservation, you'll probably lose that money sadly.

Do some planning, get your finances in order. Hopefully your partner will get a permanent job soon. Once they have one, give it a good 6 months before starting to look.

In the mean time, save what you can.

Good luck!

glennevis

I agree with the other replies, it looks like you will lose this property.

My friend reserved a new build plot then changed his mind. With the agreement of the developer I was able to take over the reservation and purchased the property for no extra cost, I simply reimbursed my friend for the reservation fee. Talk to the developer, if they have had a lot of interest in the development they might agree a refund.