FTB with basic Question

Hi,

I would be inteerested to see how banks would see my position.

Myself and my partner have saved up a deposit of roughly 25% of what we would like to get a mortgage.

The only problem is that, while she is permenant, I am not. I am Qualified as an Engineer and haven't been out of work since I quailified 3 years ago, but they have all been 1 year contracts.

Would this be a problem? Or could that Banks see this as normal in my line of work?

I suspect that they will see this as a problem. I have two friends who recently were in a similar position i.e. great deposit, great credit history and one was a contractor and the other was in a permanent job.
Both were very well paid a joint income of approx. 150k per annum. However the banks would really only consider the permanent job for the purposes of calculating how much they could borrow in the end they struggled to be able to borrow 190k.
Have you spoke to a mortgage broker about your position? He/she might be able to advise you of which banks would be open to dealing with your application.

On another thread (now closed) you state "I purchased a new house that is being built (mortgage approved, contracts signed 2013)" ...

fast approval since this morning ...

I guess your question has been aswered ... they seem to have no problem with your situation ...

sahd said:

The OP wrote the first post back in June...

Click to expand...

Whatever way I looked at it .... I took it up as being today .... go figure ..