meumeu77
03-10-2005, 08:33 PM
Hello,
I hope some of you can answer my question.
I'm in my third year of teaching but have just had about enough. So I've decided to resign and leave the school end of December.
My hubby and I want to move back to Sheffield at the end of the year. I don't know for sure whether we'll find a job quickly. Supposing we do, will we be able to get a mortgage even if we haven't been in the same job for a year.
Would the fact that I'm a graduate help or not?
1Man&hisBMW
03-10-2005, 09:36 PM
Do you have a sizeable deposit? Otherwise maybe go for a self-cert?
Keep a few ideas in mind. If you deposit is big enough, I have known certain banks to 'overlook' your employment history.
jayjay
03-10-2005, 09:40 PM
Southey Green school are having a big shake up with their teaching staff and all have to reapply for their jobs.
Might be some jobs available :D
meumeu77
03-10-2005, 10:03 PM
1man&hisBMW, what do you mean by self-cert? Can you explain please as I don't have a clue. Also is a 10% deposit a sizeable deposit or not?
Jayjay, thanks for the info but I'm not sure I want to carry on teaching. I'd rather have less holidays and less money but be healthy!
Maddy
03-10-2005, 10:22 PM
Hi
I had been in my current job for about 3 months when we had our mortgage agreed, my partner had been in his for 3 years but only about 10 months full time. As i still held a graduate bank account with my lender (just - it was just under 3 years since I graduated) we took out a graduate mortgage which was 100% meaning we didn't need a deposit and just paid survey and solicitors fees.
Hope that helps
1Man&hisBMW
03-10-2005, 11:28 PM
Originally posted by meumeu77
1man&hisBMW, what do you mean by self-cert? Can you explain please as I don't have a clue. Also is a 10% deposit a sizeable deposite or not?
Jayjay, thanks for the info but I'm not sure I want to carry on teaching. I'd rather have less holidays and less money but be healthy!
Self cert is where you certify your OWN income (ie: they wont check with your employer etc - no checks) You pay a slightly higher rate of interest, but just fix it for two years, keep a good payment record and then move it to a normal rate. Simple.
Or if you have a grad account / been with a bank a long time give that a try. Depends on the rate you are getting though.
meumeu77
04-10-2005, 06:49 PM
Thanks Maddy and 1ManandhisBMW,
your replies have really helped me understand my options.
Thanks again.
:thumbsup: