Ineligible for joint application

jointapplic

Registered User
Messages
8
Hi there
Partner and I are going for a joint mortgage. However we have been advised that I am ineligible as I only start full-time work next week after four years in college retraining, i.e. I have not been in employment for the past twelve months.
My partner is on 54,000 gross and I start on 32,000 gross moving to 38 next year and so on - I am starting permanent FT work as a doctor.
There is obviously a large difference in what we are eligible to borrow according to the online calculators when we do a calculation on his income alone versus joint.
Are the lenders going to take my salary into account (both are to be paid into our joint account) as 'guaranteed income' or anything like that or will I be completely ignored in the process? I can understand they want solid employment histories but I am pretty much guaranteed employment for the next 40 years!

Any advice would be welcome. We are new to this and slightly terrified.
 
Have you spoken to the bank directly yet?
I think they do have some underwriting judgement and will factor in the fact you are a doctor - however you need your contact in the bank to fight your case with the underwriters. Any common sense would tell them to get you on board now.

The issue is in the current climate they fail to see the long term prospects and are too quick to reject. But I'd definitely be banging the door emphasising your profession.

Do you have a probabtion period? If it's 6 months - bear in mind that by the time you find somewhere and do all the legal stuff the 6 months may nearly be up. Maybe the concession will be that you can draw down in 6 months which isn't a long time in house buying
 
No probation period, full time contract for 1 year then we move to senior house officer x 2-3 years depending ons specialty and so on until consultancy. I mean it is probably the only career now where i am safely employed until retirement and there is a HSE salary scale I can produce for a lender. Well we have an appointment with BOI today at 3 so will do my best to emphasize, not bothered about me formally being on mortgage as long as they will take extra income into account in some way.
 
This is the type of case where you need a mortgage broker to promote your case.

It sounds as if someone has just checked a box "not in a permanent job" and ignored the real story.
 
This happens regularly for non-consultant doctors - no permanent contracts until you're a consultant which can be 10-12 years. There are mortgage brokers who specialise in doctors. They often advertise in the medical papers or you could ask a colleague.
 
Well my contract for intern year is permanent, and thereafter training schemes will contract you for say 3 years etc. and nobody who reads the paper could deny that I will always have a job as an EU citizen when the HSE are shipping in lots of non-Irish doctors to make up the workforce. I reckon if today isn't good news we will see a broker all right because between the two of us we are on good money and this will be even more the case in a few years. We want to buy sooner rather than later though. Such a minefield! Thanks for advice all.
 
update - meeting very positive, she is 99% sure they will count me as a joint applicant. Wahoo!
 
Congratulations, that's a great result.

To clarify, all training posts (intern, BST, HST) are full-time, fixed-term contracts and are not permanent. The HSE and postgraduate colleges are quite specific about this. For example, the 2014 intern contract includes the following clause:

The objective ground for issuing a fixed-term contract is that this post is only recognised by the Medical Council for a maximum period of 12 months for the purposes of intern training and therefore cannot be of indefinite duration.

Should the contract be for a fixed term, the Unfair Dismissals Act, 1977 – 2001 shall not apply to the NCHD’s dismissal consisting only of the expiry of the contract on the specified date. The NCHD’s employment may be terminated by notice in accordance with the Minimum Notice and Terms of Employment Act 1973 – 2001.

Training schemes do not give contracts; they may ask you to sign a 3-year training agreement or similar document, but the actual employment contract is always with an individual hospital. There is talk of this changing, but I'm not aware of any firm plans.
 
Thanks for that. That to me is still the land of the unknown. All she wants is a payslip anyway.
 
Are you sure you really want to buy a house at this stage in your medical career? You may well need to be mobile and flexible with regard to location when you are applying for training posts, and in many cases the route to a consultant post will include at least one overseas fellowship, commonly in the US or UK. It would certainly be worth having a chat to some senior colleagues in your chosen specialty before tying yourself down to a single location?
 
I am also a doc, but a few years into training and agree with the last two posters. You are not on a permanent contract until you are consultant/GP.
And do think about whether you want to tie yourself down, it's a long enough road and you can be sent to different locations in ireland, not counting the need for an overseas fellowship even. And dublin is not central and commutable to everywhere!
 
Hey all. Thanks for clearing contract stuff up. Other half only works in Dublin, it's a family business and not moveable because of its nature, we are happy to stay and I am probably going to do psych so don't need to move but really appreciate your advice. I am also 30, so have done all my travelling and am definitely willing to do a year away down the line depending on circa but not as footloose and fancy free as the 23 year old undergrads.
 
Back
Top