Mortgage without permanent work contract

holly079782

Hello,

As per title, I would like to get a mortgage, but I'm on a 3 month rolling contract which is likely to be made permanent, but can take up to two years to obtain.

I have now been employed for just over 5 months.

My contract doesn't state what type of contract I have i.e permanent or temporary. It's not written anywhere, so do I have to tell the mortgage provider that I am on a 3 month rolling contract?

Thank you

aoleks

Banks usually ask for one payslip, none of my friends were asked for a contract.

hazyjo

They'll probably get in touch with your employer. That's where you might get tripped up. If they ask if it's permanent or temporary work, be honest.

hannahcolobus

I've had two mortgages in the last two years and both times they asked for copies of my contract.

In the first mortgage, I was on a 3 year fixed term contract and they wanted two years left on it!! I remember having to rush to get the mortgage through because I was about to go outside of that window. 

It depends what industry you're in too though, I was still in a probation this time but because of the work I do the underwriter agreed there was little risk I'd struggle to find work if I didn't pass my probation. So if you're in a fairly in demand industry the underwriter may be able to allow it?

MrsBrush

Go and find a decent mortgage broker, who can advise. I have worked on fixed term contracts for the last 7-8 years and have had no problems. I re-mortgaged last year to secure a decent 5 year fixed rate, knowing we wanted to move. So when we applied to port the mortgage this year, I have changed jobs and taken a pay cut (a choice rather than a necessity), and I had to prove that I had less than 3 weeks between one contract finishing and the next one starting. I needed employment contract letters, 3 months pay slips, bank statements and my last p60.

My mortgage is with Nat West and they have been really good, and very quick with decisions.