Mortgages for agency workers

shopaholicsan

Hi

Does anyone know any lenders who will loan to agency workers? My current mortgage is with Nationwide and I applied with them again but it seems they have become more stringent as they have been quibbling with my employer references for weeks now and I need a plan B if they turn it down.

I have a zero hours contract with the agency and have worked with the same company for 5 years - this company have provided a letter to say the work is ongoing for the foreseeable future at the level I earn now.

Many Thanks

ACG

Forseable future could change tomorrow.
Typically lenders want something with some commitment - ie 6 months.

That being said, i think with your length of history there you may have options with some lenders who use an actual underwriter rather than a guide book but for those lenders you could do with speaking to a broker really.

StrawberryJam132

I'm also in the same situation! I'm on a zero-hour contract looking for a mortgage. A broker told me that I can only apply to a certain few lenders because of this, and intrest will be more... Is this true?

*Worried*

shopaholicsan

Thanks ACG -I had a really bad experience with a broker last year so it has put me off. Any tips on finding a well recommended one? I appreciate that it is better to use one but am very wary now. The one I used was attached to the estate agent but independent - incredibly inefficient to the point of incompetent.He ultimately lost me the house I was trying to buy and wrecked my credit rating by applying for too many mortgages after not listening to what I was telling him about my employment situation and applying to lenders whose basic criteria was not met.

Dave_Ham

Sounds like it could be any one of the many Estate Agents mortgage advisors out there.

The details of the case will make or break this as ACG suggested and lender selection will be critical, as a good broker.

Your length of continuous (?) service will help, as will a good track record of repaying the Nationwide mortgage. % deposit will also be a factor.

All the best

ACG

My main tip as Dave suggests is to avoid estate agent brokers.

Have a look on google maybe? See if you can find some local brokers have a chat and see how confident they seem?

shopaholicsan

Thanks - I just tried London & Country as advised on the MSE mortgage guide - the person I spoke to is looking into it but said he is very doubtful I can get a mortgage- I'm really worried now as I need to move and at this rate can't fund a new mortgage

ACG

Find a small local broker.

Think about it in general - small local companies offer you better service even if theyre not quite as cheap. The same can be said for brokers. They might not be fee free like L&C but they will have more time to dedicate to the job. Generally speaking you get what you pay for.

kingstreet

Most of us tend to have connections with local lenders in our areas. In mine, it's Dudley BS, Leek United, Stafford Railway etc.

Some of these lenders will only lend to those resident in their geographical area, so a broker in your area may lead you to such a lender.

In my area we had issues over piecework, the pay/employment for the pottery industry and local lenders found ways to deal with such cases.

shopaholicsan

Ah that's interesting thanks to all of you for your much welcomed advice...off to look for a local broker now

Mikazaru

I have a zero hours contract and was offered a mortgage with LLoyds as a first time buyer. She did say it wouldn't always be possible but would depend on the LTV.