2007-01-22 01:31:44 · 13 answers · asked by Maz 1 in Business & Finance ➔ Careers & Employment
yes dear. You have to have a regular income status and that too a regular income from past.... u cant just say hey i got this job last week and this will give me a regular income..
Ant this feature is gud for u too, as u ur self would wanna be assured of a regular income flow, before u put ur hands into mortgage responsibility.
2007-01-22 01:34:56 · answer #1 · answered by Ruchira V 3 · 0⤊ 0⤋
Not necessarily, You need to be in the same line of work.
So if you sell appliances at Best Buy, and have been on that job for 4 months, there is no problem as long as you've been selling appliances at another store for a few years.
If you were a carpenter for 10 years and now for the last 4 mo. you are an appliance salesman. That will be a problem.
Contact a local mortgage broker and ask them about your exact situation.
2007-01-22 09:38:47 · answer #2 · answered by Anonymous · 0⤊ 1⤋
There is no standard for this. While, yes, the lender considers your work history as a serious factor in your ability to repay a loan, each lender has different standards and can evaluate several factors differently. They may look at how long you've been in the industry (rather than just the specific job), credit history, income, and numerous other factors. Some lenders may allow it and simply charge you a higher rate of interest if they consider you a risky investment, it's really hard to tell!
2007-01-22 09:35:57 · answer #3 · answered by CSUflyer 3 · 1⤊ 0⤋
The mortgage company willl usually ask for copies of your last three payslips so 3/4 months is fine.
2007-01-22 09:44:34 · answer #4 · answered by Cara 2 · 0⤊ 0⤋
Not necessarily, I re-mortgaged last September and got the go ahead, even though I didnt start this job until June.
2007-01-22 09:34:12 · answer #5 · answered by Rich T 6 · 0⤊ 0⤋
You want to have consistency in the same field not necessarily the same job. Although it would be good ifyou were on a job for moret than a year.
This would show stability and the ability to take care of responsibility.
2007-01-22 09:35:22 · answer #6 · answered by Ms. V 2 · 0⤊ 0⤋
As long as you have got 3 years worth of pay slips or 3 consequtive P60s you can get a mortgage, it does NOT matter how long you have been in your current job
2007-01-22 09:45:37 · answer #7 · answered by k 7 · 0⤊ 0⤋
It's completely up to the mortgage firm so it is always different certain ones may work with you have to shop around!
2007-01-22 09:38:13 · answer #8 · answered by snjl67 2 · 0⤊ 0⤋
As long as you can produce 3 months wage slips - and depending on what you are trying to buy - you should be able to take out a mortgage.
A steady income is only one of the factors.
2007-01-22 09:40:25 · answer #9 · answered by sugar 2 · 0⤊ 0⤋
Ideally, because it is supposed to indicate stability, however, the focus these days is very much more on demonstrating that you can pay your bills and have a track record of doing so. Thereafter it is about demonstrating you can afford it. Good luck
2007-01-22 09:36:04 · answer #10 · answered by Mike L 2 · 1⤊ 0⤋