Mortgage with new contract but old employer

pstefa

Hi there,

I have a fixed-term contract with my current employer that has only a few months left to expire, so banks don't like that when it comes giving a mortgage.

I have the option of switching to a permanent contract but with a previous employer (worked there 2 years ago) to better my chances for a mortgage.

Question: Would a permanent contract with a known past / known employer be acceptable to banks straight away OR would I have to wait 3-6 months as is customary for new positions?

MWT

pstefa said:

Question: Would a permanent contract with a known past / known employer be acceptable to banks straight away OR would I have to wait 3-6 months as is customary for new positions?

It depends on the lender, some will be happy with only a start date and a signed employment contract...

This is something your broker would factor in when deciding which lender is best for your circumstances...