Hi all,
I'm a first time buyer currently looking at the various mortgages available to me. I have perfect credit history and close to 10% deposit. However, the fact that I'm in a fixed term contract at work is an issue.
Mortgage brokers are always asking me if I am in full time employment - which I am. I then volunteer the information that it is fixed term contract and that changes my eligibility (to varying degrees, depending on the provider).
Here is my question - do I need to volunteer this information? Googling documents required for the application process just tells me I need payslips for the last 3 months. If I don't tell them I'm on contract, will they find out during the application process?
I appreciate why contracts aren't ideal for mortgage providers, but I have very good job security and if my contract isn't renewed, I know I could get a permanant job very easily - I don't have to take contract work, I choose to. So this is very frustrating....
Thanks for any help!
I'm a first time buyer currently looking at the various mortgages available to me. I have perfect credit history and close to 10% deposit. However, the fact that I'm in a fixed term contract at work is an issue.
Mortgage brokers are always asking me if I am in full time employment - which I am. I then volunteer the information that it is fixed term contract and that changes my eligibility (to varying degrees, depending on the provider).
Here is my question - do I need to volunteer this information? Googling documents required for the application process just tells me I need payslips for the last 3 months. If I don't tell them I'm on contract, will they find out during the application process?
I appreciate why contracts aren't ideal for mortgage providers, but I have very good job security and if my contract isn't renewed, I know I could get a permanant job very easily - I don't have to take contract work, I choose to. So this is very frustrating....
Thanks for any help!