Contracting or a low-paid FTC -which is more appealing to a lender?

KPiG

I am not sure if there is a black and white answer to this but I wondered which of the following situations would be the most appealing to a lender in the current financial climate:

- someone working on a short-term contract at £220/day, who has worked right of the last 12 months with proof of an income of £35,000+ in the last year.

- someone who has only just started a job but has a fixed term contract for 2 years earning £21,500/year.

KPiG

HappyMJ

KPiG wrote: »

I am not sure if there is a black and white answer to this but I wondered which of the following situations would be the most appealing to a lender in the current financial climate:

- someone working on a short-term contract at £220/day, who has worked right of the last 12 months with proof of an income of £35,000+ in the last year.

- someone who has only just started a job but has a fixed term contract for 2 years earning £21,500/year.

KPiG

Both about the same I guess. How are you paid? If you are paid through a limited company then you are an employee of that company with a permanent contract of employment and the limited company has a rolling contract with the client. So you would say you are a permanent employee of your limited company with a salary. You could be made redundant just like anyone else if the company loses the contract.

Dave_Ham

Depends upon the lender and how much you want to borrow...

The_J

Both are bad