Howdy,
My wife and I are looking to go for a mortgage next year. Will have to sell our current home first (still in positive equity and on a tracker) and then go look for our new home (looking to upgrade to a larger house in a better location)
Both of us are in permanent jobs (joint gross salary of €125,000 approx). However, my wife is considering switching over to the public sector. She applied for a permanent job in a public hospital in Dublin. She was unsuccessful with this however they were impressed by her interview, and so have an attractive job offer for her…….one catch is that it is only for an initial one year contract with a view of permanency. She has been told that if the permanent position does not materialize, then the one year will be rolled for another year. The reason they are not in a position to offer a permanent post is to do with a lack of funding from an area in the HSE, and hence it looks like it will be a rolling one year contract (same terms with regards salary, pension etc)
My concern is that this could negatively affect our mortgage application should we approach a bank next year given that she is going from a permanent job to a rolling contract situation. On one hand it’s a stable public sector job, however how will the bank look upon a rolling one year contract??
She mentioned this conern to the manager at the hospital who she has been dealing with, and they have said that when we are applying for a mortgage, that they can write a letter for the bank along the lines of “that the job is a long term post and will be renewed” etc
I would be keen to know what peoples opinion would be on the above change in job affecting any future mortgage application? Perhaps some brokers on here can give there two pence worth?
Cheers!
My wife and I are looking to go for a mortgage next year. Will have to sell our current home first (still in positive equity and on a tracker) and then go look for our new home (looking to upgrade to a larger house in a better location)
Both of us are in permanent jobs (joint gross salary of €125,000 approx). However, my wife is considering switching over to the public sector. She applied for a permanent job in a public hospital in Dublin. She was unsuccessful with this however they were impressed by her interview, and so have an attractive job offer for her…….one catch is that it is only for an initial one year contract with a view of permanency. She has been told that if the permanent position does not materialize, then the one year will be rolled for another year. The reason they are not in a position to offer a permanent post is to do with a lack of funding from an area in the HSE, and hence it looks like it will be a rolling one year contract (same terms with regards salary, pension etc)
My concern is that this could negatively affect our mortgage application should we approach a bank next year given that she is going from a permanent job to a rolling contract situation. On one hand it’s a stable public sector job, however how will the bank look upon a rolling one year contract??
She mentioned this conern to the manager at the hospital who she has been dealing with, and they have said that when we are applying for a mortgage, that they can write a letter for the bank along the lines of “that the job is a long term post and will be renewed” etc
I would be keen to know what peoples opinion would be on the above change in job affecting any future mortgage application? Perhaps some brokers on here can give there two pence worth?
Cheers!