Mortgage Whilst On Work Probationary Period

[Budlet]

Further to my previous post about flat buying, the two boys are working a 6 months probationary period (one in a bank and the other with an international IT company). The mortgage application has been refused, and the mortgage company no longer take guarantors for any agreement. Does anyone know of any banks/companies who would give a mortgage during probationary periods?

[ubasses]

The best place to go would be a Mortgage Broker, they will know what is out there in the market place including the smaller Companies.
It may be in their best interests though for them to wait until their employment is made permanent, the last thing they need is for one of them to be out of work so early into the Mortgage.

[Peter Pedant]

erm erm - why not link your own name as a joint mortgagee ?

[ I can neva remember - the mortgagor is the bank and the mortgagee is the house holder innit ? ]

and the effect would be tha you are a guarantor ( by nature of the joint mortgage - each one is wholly liable in the case of default )

[Peter Pedant]

I did that with my niece when she was a student but it was seven or eight years ago

[bednobs]

i may be wrong but i have the impression budlet is older

[Peter Pedant]

you mean budlet has bloomed and should in fact be - Old Budlet

or

Budlet that was but is now a stipe ?

[fiction-factory]

I'm not sure being on 6 months probation is any different to a permanent job- in either case the employer can dismiss for almost any reason if they decide they don't want to keep you.

[Hymie]

All those years ago when I got my first mortgage, I had just changed jobs – the mortgage was with Skipton. But I did have a hefty deposit which must have helped.

As ubasses says – a mortgage broker will know what is available given their circumstances.