Can I get a mortgage on a temp contract?

[Kittykat93]

Just that really! Can't find solid answers anywhere. I'm currently working for a company on a temp contract that keeps being extended. Hoping to move in the spring next year but will a mortgage lender accept my wages as being stable as technically I am not permanent?

Tia

5.20am funny time to be wondering about this I know but I have a teething 18 month old awake

Very unlikely

They will more than likely require you on to be employed on a permanent contract due to job security.

Depends on your other circumstances - savings, employment history, income. I've been getting mortgages on temporary contracts for 12 years.

When we got our first mortgage we were both on temporary contracts (working as consultants, so six month gigs - sometimes extended at a place, sometimes not).

What we found was our work history didn’t work for the computer says no culture of the High Street banks (we spent one soul destroying day literally walking down one and got told by six different lenders that they couldn’t even offer us an agreement in principle). But we got a mortgage broker who specialised in freelancer / contractor mortgages, who got us a mortgage with Halifax (second in the high street to turn us down!). It cost us but honestly was the best £200 I’ve ever spent and made everything much less stressful.

I’m not sure what the rules are on recommending folk but PM if you do want to know. We live London-ish and I think they’re south coast somewhere so it was all phone / email.