Hi all
I have just been offered a full time state government role on a 3 year fixed term contract. I am looking to get a mortgage in the next 6 months, and wondering how a lender would look at a 3 year role instead of permanent.
Thanks
Mortgage with 3 year fixed term contract role
t-money on 16/04/2019 - 11:21
Comments
Still waiting on email response from broker. Looking for opinions or experiences here as I understand lenders will vary in their policies on these matters.
My understanding is that the fixed term role is viewed in exactly the same light as a "permanent" role for mortgage purposes.
I haven't borrowed for a while, but previously a 1 year contract was not a problem. will also depend on deposit amount and earnings. If you speak to leaders and it is a problem a mortgage broker may be able to help (Note that I have never used a broker personally)
Your best bet is to go through a broker (Opposed to going directly to a lender), who can aggregate the different policies for the different banks, and identify for you, what your best option is.
Feel free to get in touch if you would like some more info.
By today's workplace standards a 3 year fixed term contract would far exceed the time-span of a typical job.
What did your bank or mortgage broker say when you asked them?