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Mortgage on temporary contracts

  • 31-07-2017 5:08am
    #1
    Ninja_Go
    Registered Users, Registered Users 2 Posts: 78 ✭✭


    Hi,

    Has anyone been successful recently in securing a mortgage without permanent jobs?

    I am the chief income earner and am a primary school teacher on a temporary contract. After this coming school year I am hoping to get a Contract of Indefinite Duration.

    My husband is halfway through a 6 Month contract with a company that he was working for through an agency for the 18 months previous to them taking him on as staff. We are fairly confident that he will be taken on permanently after this contract expires.

    We have our deposit ready, good savings history and a strong nest egg/emergency fund separate to the deposit. We also have evidence of ability to repay and have zero outstanding debts.

    We met with EBS last week and we were more or less told it's not going to happen until I get CID which is a year away.

    The thoughts of waiting another year while house prices rise is pretty frustrating when we feel as though we have everything else in place.

    Any advice?


Comments

  • #2
    Lux23
    Registered Users, Registered Users 2 Posts: 7,134 ✭✭✭Lux23


    You could maybe try a mortgage broker but I think if you're both on a contract it might be difficult for you.


  • #3
    fits
    Registered Users, Registered Users 2 Posts: 13,777 ✭✭✭✭fits


    Find a good broker.


  • #4
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    Unfortunately you will have to have a Contract of Indefinite Duration and your husband will need to have passed probation.


  • #5
    Ninja_Go
    Registered Users, Registered Users 2 Posts: 78 ✭✭Ninja_Go


    Trish56 wrote: »
    Unfortunately you will have to have a Contract of Indefinite Duration and your husband will need to have passed probation.

    Thanks Trish - no matter what? Are there no exceptions? I've heard of people getting mortgages by getting a letter stating they will get CID on x date..we just feel we are in a strong position in many regards and will both be kept on in our current jobs. The thoughts of waiting a year while prices rise is frustrating, plus we want to start a family and this will delay us for sure.


  • #6
    Ninja_Go
    Registered Users, Registered Users 2 Posts: 78 ✭✭Ninja_Go


    fits wrote: »
    Find a good broker.

    Can you recommend anyone?


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