Mortgage with non-standard job

thmaga

I'm looking in to my chances of getting a mortgage. My annual salary between two jobs is £24,000 and I was given a DIP with Halifax.

However, one of my 'jobs' is as a local councillor for which I receive a 13,400 salary.

I put this down as 'permanent' on the application but am now thinking whether that does actually cover it, or should I describe it as fixed-term until the date of the next election?

I don't have an employment contract as such. Has anyone else been in a similar situation?

amnblog

It clearly is not permanent, so your DIP is not based on correct information. Did you speak to an adviser at Halifax?

thmaga

I've not spoken to anyone yet, just testing the water to see what would be possible.

amnblog

Well, that is the next step. Running DIPs when you are not sure what you are doing is an accident waiting to happen.

ACG

Completely agree with amn.
This is hitting a chord with me at the minute. I have a case on my desk which I am struggling to place, the customer applied directly and made a genuine mistake on his application - I can understand how the average person would make such a mistake. He then went to a broker who thought it would be better to do what the customer did for whatever reason, but they would have known it was wrong.

I come to do the case and do it correctly and we find out that the client is on a fraud watch list, making it impossible to get him a Mortgage even when the issues are explained upfront. The customer is now spending time trying to get the issue resolved and it is looking very likely he will miss out on the purchase.

- I 100% trust the client is not dodgy and this is just a mix up. But it is having massive repercussions.

Lenders share information, rightly or wrongly they can put you on the naughty list and you can find it impossible to get a Mortgage until it is resolved, a whole load of stress. I doubt it would make the news (data protection and all that), but it would be an interesting article wouldnt it, local councillor on fraud list.

As the old saying goes, if a job is worth doing, it is worth doing right.

The job has a definitive end date, at which point it may get extended.

thmaga

I'll definitely be giving them a ring to see what they advise, I have no intentions of pursuing an application based on what I've entered so far.

Should it be treated as a 5 year fixed term job which I'm 5 months in to, would that make an application difficult ?

amnblog

It is what it is, but you need to be accurate.