I have just received a lump sum. The smart way for me to spend it would seem to be to buy a property to live in as I'm renting at the moment. The lump sum is around 50% of what I would like to spend on the property (120K).
I have a 1 year contract at work(6 months in) which is likely to be extended and potentially could be there for years but nothing certain.
Would the fact that my employment is not permanent undermine my chances of getting a 60k mortgage, even if the property would be worth double that? What other options would I have in obtaining the required finance?
I have a 1 year contract at work(6 months in) which is likely to be extended and potentially could be there for years but nothing certain.
Would the fact that my employment is not permanent undermine my chances of getting a 60k mortgage, even if the property would be worth double that? What other options would I have in obtaining the required finance?