Mortgage Questions: I am not in permanent employment. Can I get a mortgage?

Answer: If you are not in Permanent employment no mainstream mortgage lender will consider a mortgage application from you, while that may sound harsh, it reflects the reality in lending that the main thing a lender needs is security that the borrower has the capacity to pay back the loan in the future. Sub-prime Lender Start Mortgages may consider an application, but if you opt for a specialist lender you will pay  for it via the margin on their lending, they take on risky applications but they charge accordingly. The maximum loan they will lend is 75% of the purchase price. This type of application is assessed on a case by case basis & will depend on the length of your contract served etc. the length of contract remaining and your previous employment history.

However, to give a short concise answer – generally banks won’t lend to you if you are not in permanent employment, this is a question you will be asked by your mortgage adviser and it also appears on your salary cert.

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