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Mortgage or Loan?
dubizzle
Posts: 1 Newbie
Hi everyone,
I currently work for an airline on a fixed term contract, I’ve worked for them since February 2017.
I work February-November and have December and January off.
My base salary is £8,900 per annum, this is based on me working 20 hours a week but when June arrives (which is the start of the summer season) I am contracted to work 30 hours a week, however it’s usually more for instance I’m actually working 150 hours in June = £1,425 is what I will receive that month.
A flat I used to live in has came on the market for £42,000 and I’m extremely interested in it. I’ve spoken to a mortgage broker which I told him my situation and that I could put down 35% deposit. He said that no one would give me a mortgage for the wage I am on, that it’s very difficult to get a mortgage on a fixed term contract and for a mortgage as small as this.
My bank has said they could give me a loan of £17000. With my savings and my father gifting me some of the money I could purchase this way.
What does everyone think? Should I contact another mortgage broker?
Thank you.
I currently work for an airline on a fixed term contract, I’ve worked for them since February 2017.
I work February-November and have December and January off.
My base salary is £8,900 per annum, this is based on me working 20 hours a week but when June arrives (which is the start of the summer season) I am contracted to work 30 hours a week, however it’s usually more for instance I’m actually working 150 hours in June = £1,425 is what I will receive that month.
A flat I used to live in has came on the market for £42,000 and I’m extremely interested in it. I’ve spoken to a mortgage broker which I told him my situation and that I could put down 35% deposit. He said that no one would give me a mortgage for the wage I am on, that it’s very difficult to get a mortgage on a fixed term contract and for a mortgage as small as this.
My bank has said they could give me a loan of £17000. With my savings and my father gifting me some of the money I could purchase this way.
What does everyone think? Should I contact another mortgage broker?
Thank you.
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Comments
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Does the bank loan permit property purchases? Is it an attractive rate?0
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