What would you do in my situation?

Unicorn

Unicorn

Unicorn

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24 Dec 2011
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Iv recently come out of work, Had a nice week off looked for some jobs had 2 interviews the usual really.
The only issue is the positions i interviewed for are quite poor in terms of pay and are pretty much none-negotiable.
Compare to what i was earning being a self employed contractor ill be earning 25-30% less approx being employed on the books in a slightly different (easier) role.
The first role has no perks to it other than being 5 mins from my house and having a slightly earlier finish on fridays. This role takes the biggest paycut

The second role has perks of a van, increasing pay of 22.5% after first year which is nice, Free gym, Home package for tv, broadband, dental. This role takes a less severe paycut in the second year of employment but quite a big one in the first.

The real question which i have though is im 23, In rented accomodation and i have a big deposit saved and want a mortgage offer. Being self employed presented quite big hurdles with the bank and as such they rejected me wanting more books/evidence. Being employed means when i get my first paycheck i can essentially get approval and get myself on the housing market potentially before it rises much more round my local town.

Just after afew opinions on if i should snub these jobs and keep searching for the higher paying or think long term, get a job, get a mortgage and look for the higher paying jobs later
 
currantloaf said:
What are the longer term prospects these companies can offer? Does there seem to be simple progression routes?
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First role. Progression of 10% rise or so over 9 job titles basically. Tier 9 being a floor manager and 0 being basic
Second role. Option of moving onto fibre-optic specialization with a small (5% or so) pay increase

Progression in first firm will be a lot easier as its all under one roof, Progression in second firm will be harder as its a Worldwide firm.

Forgot to even put in OP, My job is electrician but im moving away from just electrical and looking more at options i can do with it (i.e automotive electrics, Electronics, Data etc)
 
Are you doing this to get on the housing market and then eventually thinking of switching back to self employment? Or this likely to be a permanent thing?

I'd probably go for the second one, there are a lot more opportunities in large companies if you are willing to switch to other areas which you seem too want to do.
 
If you are doing this purely to get on the housing market, you will need the highest paid job out of the 2, and you'll need 3 months + in pay checks.

Although, I am confused why you need a salaried job if you're making good money self-employed? You can still get a mortgage when you are self-employed. Go to a proper mortgage advisor or the mortgage advice bureau and speak to them. They are professionals and will be able to give proper advice, I've found the banks a little lacking when it comes to such things.

We've just had our mortgage dropped by £170 a month by using a friend who is an advisor. Didn't even charge us for it.
 
Bickaxe said:
Are you doing this to get on the housing market and then eventually thinking of switching back to self employment? Or this likely to be a permanent thing?

I'd probably go for the second one, there are a lot more opportunities in large companies if you are willing to switch to other areas which you seem too want to do.
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Probably go back to self employment later in time

AHarvey said:
If you are doing this purely to get on the housing market, you will need the highest paid job out of the 2, and you'll need 3 months + in pay checks.

Although, I am confused why you need a salaried job if you're making good money self-employed? You can still get a mortgage when you are self-employed. Go to a proper mortgage advisor or the mortgage advice bureau and speak to them. They are professionals and will be able to give proper advice, I've found the banks a little lacking when it comes to such things.

We've just had our mortgage dropped by £170 a month by using a friend who is an advisor. Didn't even charge us for it.
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Iv tried brokers and they are even having issue's with it due to my accounts/books (i have a year)
And my bank suggests it can be done on a Mortgage in principal with first paycheck so ill have to check that
 
Double check with lenders, a lot of them won't lend after a few months worth of paychecks and having passed your probation.
 
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