Joint mortgage application - only one permanent job

Socrates1982

Hi all, myself and my partner are looking to apply for a mortgage from the middle of next year onwards. We are doing some research into how best to maximise options. We are doing a lot of reading and research and speaking to friends and family and will employ a broker. Just saying that now to keep responses succinct and to the point please. Here is our prediciment we are unsure of...

One of us has a permanent full time job, the other has a full time fixed term job that will expire in September 2025. Will it be better for us to wait until we have two permanent job before applying for a mortgage or, is there not much to gain by waiting and applying under our current circumstances? We are thinking that if we wait for the second permanent job, the salary might be a little lower than the current fixed term salary. That is a possibility, but unlikely. Just adding that in to the mix.

Thanks for any guidance in advance. and yes....we will be seeking professional advice when the time comes. Like I say we are just doing our own research and questioning at this stage. thank you

K_S

@socrates1982 Ignoring any other limiting criteria/details in the background - with an FTC that will have been in place for 6+ months and with more than 2 years left to run when you apply, it should not have a material impact on the borrowing options you have.

Depending on the details of your FTC history and whether you are looking to maximise borrowing, you might not have access to every mainstream lender out there but you should have access to a decent number.

Socrates1982 said:

Hi all, myself and my partner are looking to apply for a mortgage from the middle of next year onwards. We are doing some research into how best to maximise options. We are doing a lot of reading and research and speaking to friends and family and will employ a broker. Just saying that now to keep responses succinct and to the point please. Here is our prediciment we are unsure of...

One of us has a permanent full time job, the other has a full time fixed term job that will expire in September 2025. Will it be better for us to wait until we have two permanent job before applying for a mortgage or, is there not much to gain by waiting and applying under our current circumstances? We are thinking that if we wait for the second permanent job, the salary might be a little lower than the current fixed term salary. That is a possibility, but unlikely. Just adding that in to the mix.

Thanks for any guidance in advance. and yes....we will be seeking professional advice when the time comes. Like I say we are just doing our own research and questioning at this stage. thank you