Will your job affect your chances of getting a mortgage?

Posted on October 31, 2018 at 11:12 pm

If you are looking to buy a home then you may be surprised that your job can have quite a big impact on your chances of being accepted. If you are self-employed for example then you will most probably need 3- 5 years’ worth of accounts showing that you have a good turn over before you will even be considered. If you have not keep accurate accounts then this may prove tricky and you could find yourself in a situation where no one will even be willing to offer you the money.

If you are in a low or zero hour contract then again you may struggle to get the mortgage deal you are looking for. With no guarantee of work, mortgage providers tend to not like to take the risk.

If you really want to get a mortgage then you may have to consider finding alternative employment, ideally a full-time permanent position. You will often need to supply at least 3 months of payslips and possibly a contract of employment. If you are buying a house with someone else then often joint income is taken into account so it may be if they have a well-paid stable job, you will be able to get the mortgage deal you need to buy your home.


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