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Mortgage on Fixed Contract.

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  • 07-06-2017 4:13pm
    #1
    conormc1984
    Registered Users Posts: 117 ✭✭


    Hi Folks,
    Hi folks, myself and my OH are in the process of applying for a mortgage. The bank (PTSB) have been onto us requesting a detailed salary cert filled by her employer. 
    However she has been working there 4 years and its of a fixed yearly basis but this is only because the job is part funded by the government however each year there is never an issue with the funds being supplied. 
    We are wondering has anyone been in this situation before and has it been an issue in applying, obviously the cert would be better off stating she was permanent.


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    #2
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    Not in response to your question but...isnt the law that if your wife has been continuly employed by the 1 employer for 4 years they have to offer her a permanent contact? Something to look into. Not being permanent will definitely count against i think. Although there have been cases for example with IT contractors where the nature of the work is contract. You may be better speaking to a broker rather than going directly to the banks.


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    #3
    BBMcQ
    Registered Users Posts: 1,324 ✭✭✭BBMcQ


    Baby01032012 wrote: »
    Not in response to your question but...isnt the law that if your wife has been continuly employed by the 1 employer for 4 years they have to offer her a permanent contact? Something to look into. Not being permanent will definitely count against i think. Although there have been cases for example with IT contractors where the nature of the work is contract. You may be better speaking to a broker rather than going directly to the banks.

    If an employee whose employment started after 14 July 2003 has been employed on 2 or more continuous fixed-term contracts, the total duration of those contracts may not exceed 4 years.
    After this, if the employer wishes to renew the employee?s contract, it must be an open-ended contract unless there are objective grounds justifying the renewal of the contract for a fixed term only.

    http://www.citizensinformation.ie/en/employment/employment_rights_and_conditions/contracts_of_employment/fixed_term_or_specified_purpose_contracts.html


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    #4
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    BBMcQ wrote: »
    If an employee whose employment started after 14 July 2003 has been employed on 2 or more continuous fixed-term contracts, the total duration of those contracts may not exceed 4 years.
    After this, if the employer wishes to renew the employee?s contract, it must be an open-ended contract unless there are objective grounds justifying the renewal of the contract for a fixed term only.

    http://www.citizensinformation.ie/en/employment/employment_rights_and_conditions/contracts_of_employment/fixed_term_or_specified_purpose_contracts.html

    Thank you...see the above OP


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    #5
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    I got mortgage approval as a single applicant on 1 year fixed term contracts. The history of them being renewed before and the fact I had been in the same area of work for a number of years before that also.

    As for having to be made permenant, there are ways around that i.e. Having to "apply" to be permenant and making it very difficult to meet the criteria. So basically it's either try get another fixed term contract or leave.


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