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Zero Hour Contract and getting a Mortgage!
the_little_one
Posts: 70 Forumite
Hi All
A little advice please.
I have been working for the same company for 6 years. I work almost full time hours there but it in two difference roles both of which are 'zero hour contracts' so there are no confirmed amount of hours. Most months my hours are the same due to being on a monthly rota however it sometimes increases due to extra cover I may do.
Can anyone throw any light on whether I would be eligible for a mortgage when I don't have a full time contract.
I suppose in a way its more secure than being self employed as I will always have some hours but really not sure!
Just had a reply back from a local building society and they said they wouldn't lend to anyone who didn't have a full time contracted job
Thank you in advance!
A little advice please.
I have been working for the same company for 6 years. I work almost full time hours there but it in two difference roles both of which are 'zero hour contracts' so there are no confirmed amount of hours. Most months my hours are the same due to being on a monthly rota however it sometimes increases due to extra cover I may do.
Can anyone throw any light on whether I would be eligible for a mortgage when I don't have a full time contract.
I suppose in a way its more secure than being self employed as I will always have some hours but really not sure!
Just had a reply back from a local building society and they said they wouldn't lend to anyone who didn't have a full time contracted job
Thank you in advance!
0
Comments
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If you've been there, working on this basis for at least two years, there are several lenders who will accept you.
They will probably ask for your last two years P60s and last three months' payslips to average your income, but this is a decent result when many will decline out of hand.
A whole market broker would be your best bet to establish who will lend you what you need at the best rates.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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