Hi All,
Im very new to this and need a bit of advice about getting on the property ladder. Here is my question, What is the normal conditions with regards working for getting approval for a mortgage, is it always permanent contract with 1year worked? There is a possibility that I could be getting vouluntary redundancy from the position Im in now. If this comes true then we will be moving county when the redundancy date comes in dec 2008. We are currently renting. I have been permanent in this job for almost 7years. Hubbie has a checkered employment record, in and out of labouring jobs since he left school. We have a car loan with the credit union but it could be covered with the shares in CU. We have savings of 30K and the redundancy would give me 37K. If we were to move at the end of 2008 would we need to find new permanent jobs and work for a year before any mortgage provider would look at us even if we had near 70K in savings. If the redundancy dosent happen what would our chances be of getting approval if I stay in my current position and hubbie gets a permanent job.
Im very new to this and need a bit of advice about getting on the property ladder. Here is my question, What is the normal conditions with regards working for getting approval for a mortgage, is it always permanent contract with 1year worked? There is a possibility that I could be getting vouluntary redundancy from the position Im in now. If this comes true then we will be moving county when the redundancy date comes in dec 2008. We are currently renting. I have been permanent in this job for almost 7years. Hubbie has a checkered employment record, in and out of labouring jobs since he left school. We have a car loan with the credit union but it could be covered with the shares in CU. We have savings of 30K and the redundancy would give me 37K. If we were to move at the end of 2008 would we need to find new permanent jobs and work for a year before any mortgage provider would look at us even if we had near 70K in savings. If the redundancy dosent happen what would our chances be of getting approval if I stay in my current position and hubbie gets a permanent job.