First time buyer working on a 9 month rolling contract

Posted on 22 June 2009

My partner and I are first time buyers and are wishing to secure a mortgage in the near future. We are, at present, in a position to put down a deposit of at least 20%. I work for West Sussex County Council who's policy is to only offer temporary contracts for 9 months then renew it for a further 9 months and so on, so it is like a rolling contract. I have been working in my present post for about 4 months now. My manager has told me that she may be able to provide me with a letter saying that she can see no reason why my contract shouldn't be renewed. Will all these factors mean that a lender will disregard our application and refuse us the loan for a mortgage?
Kind regards,
Pam

No, a lender with a flexible approach to underwriting can be considered. I would strongly suggest that you speak to an independent mortgage adviser who will be able to run through your current circumstance, i.e. your position within West Sussex County Council and what position you held with your previous employer; was it in the same line if work? All of these factors can be taken into consideration when applying for a mortgage. Of course details of your partner will also be noted and determine the maximum mortgage available to you.

 

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