Mortgages: are people getting mortgages these days? Any advice out there.

newbie1234

I have been enquiring about mortgages with my partner. Unfortunately I have been told because I am in a temporary position and not a permanent position the chance of us getting a mortgage approved is very slim, even though my partner is in permanent employment.

Has anyone had any experience with this lately? Has anyone been approved a mortgage recently even though they are not in permanent employment?

Any help or advice would be greatly appreciated.

ntlbell

i thought regardless if it was these days or the old days the applicants must be in full time employment for a min of 6 months?

did this change?

bills

Probably not what you want to hear but we got a mortgage recently but both in permanent positions.

newbie1234

ntlbell wrote: »

i thought regardless if it was these days or the old days the applicants must be in full time employment for a min of 6 months?

did this change?

Ive been working full time since June 2007, but its only temporary, not permanent. So I have been working for more than 6months

EyesOnly

Afraid it has to be a a perm contract. Me and the brother have applied for a mortgage this month an have been told it should go straight through no probs, my mate and his wife where hold straight away that they wont get it because shes not on a prem contract (shes been working for the company for nealry 2 years).

dave98

Ya ou need to be in perminent employment for past 6 months and they'll need a letter from employer to say its perminent.

bobbbb

newbie1234 wrote: »

I have been enquiring about mortgages with my partner. Unfortunately I have been told because I am in a temporary position and not a permanent position the chance of us getting a mortgage approved is very slim, even though my partner is in permanent employment.

Has anyone had any experience with this lately? Has anyone been approved a mortgage recently even though they are not in permanent employment?

Any help or advice would be greatly appreciated.

Its easy to call into the banks and find out. Only they can tell you yes or no.
It wont help you listening to anything here. Everyone has different circumstances.

confuzed

bobbbb wrote: »

Its easy to call into the banks and find out. Only they can tell you yes or no.
It wont help you listening to anything here. Everyone has different circumstances.

As Bob----b said above it depend upon lots of circumstances like
1) your and your partner credit history
2) profession, very important factor
3) what do you want to buy. House/ apartment.
4) and lastly how smart or beautiful you are.

Best advice is to ring them.

ntlbell

newbie1234 wrote: »

Ive been working full time since June 2007, but its only temporary, not permanent. So I have been working for more than 6months

Sorry, What I meant was full time permanent employment.

I was under the impression temp/contract workers full time or otherwise always had problem securing mortgages.

Senna

ntlbell wrote: »

I was under the impression temp/contract workers full time or otherwise always had problem securing mortgages.

From some banks maybe, but during the good aul days you would have went to your local friendly broker and got them to lie bend the truth, as long as you had an income and p60, job security meant diddely-squat.
How many people only got mortgages because they said they would be renting out a room of their shoebox home?
How many people put down that they received bonuses of €XXXXX per year when they really only got a few free pints at xmas? (of course we dont need evidence, you have an honest face)
How many people had loans from the credit union, "Oh No, you dont have to tell them about those...."
Then go down to the pub and proclaim to all about the huge mortgage they are getting.

I personally don't know of anyone who wanted a mortgage from 2004-2007 but wasn't able to get one.

bobbbb

ntlbell wrote: »

Sorry, What I meant was full time permanent employment.

I was under the impression temp/contract workers full time or otherwise always had problem securing mortgages.

Go to the banks, or brokers. Seriously. Only they know. I know several people who thought they wouldnt get mortgage approval and gave them the very same advice. Guess what. They got it. Rumours are no good to you. You need facts. Go get them from the people who you will be looking for the mortgage from..

newbie1234

bobbbb wrote: »

Go to the banks, or brokers. Seriously. Only they know. I know several people who thought they wouldnt get mortgage approval and gave them the very same advice. Guess what. They got it. Rumours are no good to you. You need facts. Go get them from the people who you will be looking for the mortgage from..

Yea, I spoke to a broker over the phone. Said theres a slim chance, but not a great chance. Dont think its worth investigating. I'm teaching, what used to be seen as a secure career, and loans were handed out to teachers, teachers with or without a perm. job. Ah well

JJ

The wif and I got a mortgage recently and she's only working part-time ATM BUT she will be going back full time next month. She had to get a letter from her employer ensuring our mortgage provider that she would be going back full time.

blueirishangel

newbie1234 wrote: »

I'm teaching, what used to be seen as a secure career, and loans were handed out to teachers, teachers with or without a perm. job. Ah well

Are you a primary school teacher?

INTO credit union are doing mortgages with EBS now - could be worth checking out!

newbie1234

blueirishangel wrote: »

Are you a primary school teacher?

INTO credit union are doing mortgages with EBS now - could be worth checking out!

I am, Ill check that out. Thanks

dny123456

ntlbell wrote: »

i thought regardless if it was these days or the old days the applicants must be in full time employment for a min of 6 months?

did this change?

I think you are right. It was always the case, certainly that was my experience. I applied for mortgage about 7 years ago and couldnt get it as I wasn't permanent. Later when we were eventually successful, it was the first thing they asked, are you in perm employment for the last X period.

bobbbb

There are 2 self employed contractors working with me who are looking for mortgages. They are both on 6 month contracts with us. I know one of them got approved for sure.
I'll ask the other one how he got on when im talking to him again.

Definitely worth going into the banks and finding out for sure for yoursel.

And news just in ...... Im starting to feel as if im in negative equity renting :rolleyes:

http://www.examiner.ie/Ireland/idsnqlsnoj/rss2/

gurramok

True about self-employed contractors getting mortgages..

Prices coming down would mean smaller mortgage amounts needed.

Teaser rates bobbbb, teaser rates.

newbie1234

I got mortgage approval in principle

newbie1234

blueirishangel wrote: »

Are you a primary school teacher?

INTO credit union are doing mortgages with EBS now - could be worth checking out!

Thanks so much for this suggestion