Hi,
First time poster here, and looking for some advice.
Basically, I have been contracting as a Business Analyst for two years now, and before that I was a full time PAYE employee in the same business area. I had to take some personal time off though between April and August and have just started a new contract (initial term is 3 months.)
However, myself and my husband would like to move house. We currently have a mortgage which we took out when we were both PAYE, and my husband is still PAYE. We both earn more now than we did when we took out the mortgage, but when we spoke to a mortgage adviser at a high street bank the other day the amount she reckoned she would be able to offer was very surprising...in a very low sort of way, given my daily rate.
Obviously the mortgage market has changed radically in the past few years, but I'm not convinced she knew much about contractor mortgages either.
Does anyone know if we are likely to come up against major issues when applying for a mortgage because of the 5 months I've had off? During this time, I have still been drawing a salary from my Ltd company.
Thanks for any help
First time poster here, and looking for some advice.
Basically, I have been contracting as a Business Analyst for two years now, and before that I was a full time PAYE employee in the same business area. I had to take some personal time off though between April and August and have just started a new contract (initial term is 3 months.)
However, myself and my husband would like to move house. We currently have a mortgage which we took out when we were both PAYE, and my husband is still PAYE. We both earn more now than we did when we took out the mortgage, but when we spoke to a mortgage adviser at a high street bank the other day the amount she reckoned she would be able to offer was very surprising...in a very low sort of way, given my daily rate.
Obviously the mortgage market has changed radically in the past few years, but I'm not convinced she knew much about contractor mortgages either.
Does anyone know if we are likely to come up against major issues when applying for a mortgage because of the 5 months I've had off? During this time, I have still been drawing a salary from my Ltd company.
Thanks for any help
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