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Mortgage with probationary job?

(tenure-track position)

Quine
post 15.Jan.2020, 05:00 PM
Post #1
Joined: 20.Dec.2019

Hi all,

I want to buy an apartment. I have the 15% deposit. I need a committed loan offer/mortgage in principle.

Here is the difficulty: my job is probationary (for those who know academia-jargon: tenure-track). That means that my job should and almost certainly will become permanent in three years' time, but for now my contract is, strictly speaking, temporary. Arguably, it is a more secure job than most with private companies, since my employer is extremely unlikely to go bankrupt.

Handelsbanken have refused my initial request for a loan offer because the job is "temporary". Here are my questions:

Has anyone here had success with getting a mortgage despite having a temporary or probationary job? Which bank?

Does anyone here have ideas as to how I convince Handelsbanken (or any bank) of the security of my job? (my Head of Department will gladly write any letter required . . .)

Tips from fellow TT academics especially welcome!
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Svedallas
post 15.Jan.2020, 05:27 PM
Post #2
Joined: 21.Apr.2016

QUOTE (Quine @ 15.Jan.2020, 05:00 PM) *
Hi all, I want to buy an apartment. I have the 15% deposit. I need a committed loan offer/mortgage in principle. Here is the difficulty: my job is probationary (for those who ... (show full quote)


That depends on how long you have been in Sweden initially. But for the most part they are pretty strict on having a "fast" contract. That is how it has always been.

There are some smaller boutique type of loan companies that could offer a loan, but they come with a very very high interest rate.
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