Hello and hoping for a little advice on whether I can persue this further.
Here's the story first. I am currently looking for my first home to buy. I am 25 and in full time freelance employment.
I recently spent all my savings on a car and some private dental work which I don't regret one bit. But my father last week told me he had a £30k bond maturing in a month or so and I could use it as a deposit on my first home. The places I have seen so far have been £70k.
I graduated in July 2010 and have been working ever since, however I am a freelance employee. This is the norm for the industry I work in. I join a company for a few months to do a job, then go to another company and so on. I have not had any gaps in employment since I graduated. I am not classed as self employed and tax is deducted at source, so I don't fill in a tax return. This is also normal for my job.
I am in touch with an independent mortgage advisor who told me he has found a couple of lenders who are willing to give me a £40k mortgage and we are talking about them tomorrow.
However, I was in touch with Natwest-my own bank- who today told me it would be a flat 'no' to get a £40k mortgage from them. I understand that a mortgage is a privilege and not a right, however the person I spoke to didn't even look into my account or look at me on an individual basis. It was actually a 'computer will say no to freelance employees' situation.
What I would like to contest is that if they looked into my account, they can see I have been in full time employment since leaving university (and I have all payslips to match) and that I hve excellent history with them. I got a £7500 loan in May for a car and this was paid off this month- 2.5 years EARLY. I also have had credit cards with them always used and settled. I have paid off my student overdraft, now have a select account and am paid almost £2,000 every month. They'd also see that my £2k wages is entirely disposable as I live with my parents.
Do I have grounds to call and ask them to relook at my case as an individual case rather than looking at me as a number?
I am MORE than capable of paying the £40k mortgage on a salary of £31k! I understand this is risky as I can never prove I'll still be working in 6 months, however I have a full history of employment so far.
The woman on the phone also told me that if I was registeres as self employed but with the exact same salary and history, it would be no problem. It's just because I am a freelance employee they dislike it, which I think is silly considerig I would still have to find work myself and get paid the same amount.
Happy to accept it if this is the end but would appreciate any info from more experienced members.
Thank you
Here's the story first. I am currently looking for my first home to buy. I am 25 and in full time freelance employment.
I recently spent all my savings on a car and some private dental work which I don't regret one bit. But my father last week told me he had a £30k bond maturing in a month or so and I could use it as a deposit on my first home. The places I have seen so far have been £70k.
I graduated in July 2010 and have been working ever since, however I am a freelance employee. This is the norm for the industry I work in. I join a company for a few months to do a job, then go to another company and so on. I have not had any gaps in employment since I graduated. I am not classed as self employed and tax is deducted at source, so I don't fill in a tax return. This is also normal for my job.
I am in touch with an independent mortgage advisor who told me he has found a couple of lenders who are willing to give me a £40k mortgage and we are talking about them tomorrow.
However, I was in touch with Natwest-my own bank- who today told me it would be a flat 'no' to get a £40k mortgage from them. I understand that a mortgage is a privilege and not a right, however the person I spoke to didn't even look into my account or look at me on an individual basis. It was actually a 'computer will say no to freelance employees' situation.
What I would like to contest is that if they looked into my account, they can see I have been in full time employment since leaving university (and I have all payslips to match) and that I hve excellent history with them. I got a £7500 loan in May for a car and this was paid off this month- 2.5 years EARLY. I also have had credit cards with them always used and settled. I have paid off my student overdraft, now have a select account and am paid almost £2,000 every month. They'd also see that my £2k wages is entirely disposable as I live with my parents.
Do I have grounds to call and ask them to relook at my case as an individual case rather than looking at me as a number?
I am MORE than capable of paying the £40k mortgage on a salary of £31k! I understand this is risky as I can never prove I'll still be working in 6 months, however I have a full history of employment so far.
The woman on the phone also told me that if I was registeres as self employed but with the exact same salary and history, it would be no problem. It's just because I am a freelance employee they dislike it, which I think is silly considerig I would still have to find work myself and get paid the same amount.
Happy to accept it if this is the end but would appreciate any info from more experienced members.
Thank you