Permanent/Contract Job Criteria for Mortgage Application

S

SPIRAL

Guest
Just wondering if anyone knows what the criteria are in terms of job permanency for the 2nd applicant on a mortgage application.

I am in a permanent job for >10 yrs (large multinational).
My wife is currently in her 3rd mth of a 9 mth contract with a multinational (recently returned to work after VR). Would she need a permanent contract to be considered as part of mortgage application or if her contract was extended to 2-3 yr duration would that help.

Any help/info. greatly appreciated.
 
Would she need a permanent contract to be considered as part of mortgage application

or if her contract was extended to 2-3 yr duration would that help.

Yes.

Generally, contract work is not acceptable for mortgage purposes
 
If you can get a mortgage on your salary alone, then your wife's work status isn't that important.
 
In a similar position, spiral, did you have any luck getting a mortgage in joint names?
 
Were just after going through this process. We got married in January and as soon as we were married everything changed on the mortgage.

Basically my wifes salary is not taken into account, but my salary now has to support the mortgage and for both of us to live on. i.e. they say she earns €0.

BOI do take some things into account, such as if she was not working then I would get her tax credit, thus upping my salary. However AIB will not do this, they simply say she earns nothing...

It's very frustrating seeing as her salary is quite impressive just to be discarded. Thankfully like I said BOI can work with your options.
 
Back
Top