Fixed Term Employment Contract

Domj186

I am 4 months into a 1 year teaching contract. I am 25 years old and this is my first fixed teaching position. After university I was an agency teacher for 15 months before taking maternity leave (this was planned after university, hence not going into a permanent position) during maternity leave I was offered a teaching position, however, it didn’t start until 3 months after my maternity leave ended (3 month gap).

Because my contract is a fixed term, NatWest are requesting 12 months consecutive payslips prior to my current position (which I obviously have a 3 month gap in, as well as maternity leave).

Have I any chance of being accepted? This is a joint mortgage application with 60% LTV and a good joint income.

TIA

DullGreyGuy

Could your joint applicant be accepted without your income being considered?

Domj186

DullGreyGuy said:

Could your joint applicant be accepted without your income being considered?

Unfortunately not, it would still depend on both incomes...

FlorayG

The fact that you are on a short contract will have more bearing than the gap in your payslips

Domj186

FlorayG said:

The fact that you are on a short contract will have more bearing than the gap in your payslips

Just heard back and NatWest have declined to offer. Reason given: Previous employment was agency work and not fixed contract work so therefore not comparable employment. What next... 

gwynlas

You probably need to use services of a mortgage broker given your post qualification work record.

Is there any likelihood of this role being made permanent or will you be looking for a permanent contract from September anyway?

Domj186

gwynlas said:

You probably need to use services of a mortgage broker given your post qualification work record.

Is there any likelihood of this role being made permanent or will you be looking for a permanent contract from September anyway?

I doubt I will be given a permanent contract until later in the year once the school have established their intake numbers and budget. If not, it will likely be another 1 year contract or I will seek permanent employment in another school. 

MWT

Talk to a broker, they will be better placed to see if you have any alternatives now, as different lenders will be more or less sensitive to your work history, especially as a teacher.

I would also suggest not using one of the 'free' online brokers, you need someone experienced, who will charge a fee, as your situation is not straight-forward.