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Can I get a mortgage if my wife has a contract

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Hi
I'm trying to get a mortgage my wife don't yet work but I spoke to a mortgage advisor and he said if I have a contract saying my wife will be employed in a couple of months the lenders will take this into account is this correct? 

Comments

  • K_S
    K_S Posts: 6,877 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 4 January 2022 at 8:06PM
    @gavin7 If your wife gets a new job with a perm PAYE employment contract starting relatively soon (usually up to 3 months in the future), and has no record of continuous employment, there are a few mainstream lenders who may still consider her income for affordability.

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • Saying as someone with a lot of experience trying to get a mortgage on a temporary contract, it is extremely difficult to get your application approved.
    If your wife even had FTC (Fixed Term Contract), a lot of mainstream lenders would accept the bare minimum of 12 months of her being employed.
    Plus a lot of lenders usually look for continuous employment, with at least 3 months worth of payslips...
  • K_S said:
    @gavin7 If your wife gets a new job with a perm PAYE employment contract starting relatively soon (usually up to 3 months in the future), and has no record of continuous employment, there are a few mainstream lenders who may still consider her income for affordability.
    Thanks do you know what lenders would accept this? 
  • K_S
    K_S Posts: 6,877 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 4 January 2022 at 11:40PM
    gavin7 said:
    K_S said:
    @gavin7 If your wife gets a new job with a perm PAYE employment contract starting relatively soon (usually up to 3 months in the future), and has no record of continuous employment, there are a few mainstream lenders who may still consider her income for affordability.
    Thanks do you know what lenders would accept this? 
    @gavin7 Apologies I can't name lenders for a specific scenario as that could be deemed as advice based on little to no information. Hopefully someone else will suggest names.

    You could either call around and ask a few mainstream lenders, speak to the mortgage broker you're in touch with or get in touch with one of the brokers mentioned on the MSE guidance here. 
    https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

    Good luck!

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

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