zero hour contract and mortgage

Kench79

Im looking to hopefully get a mortgage in 12 to 18 months time and will hopefully have a 20 percent deposit. However I currently have a zero hour contract (agency work). I work in healthcare and realistically there is never a lack of shifts. Can I use say 18 months of payslips or should I be looking into getting a full time position before I apply for a mortgage? If I get a permanent position I will be earning considerably less, which will obviously effect the amount I can borrow.

Thrugelmir

Permanent position may be less income but at least its guaranteed.

So max out your income while doing shifts on the zero hours contract and save your money.

Over an 18 month period there should be sufficient history to evidence your earnings for mortgage purposes. Though what you might be offered may well not be based on what you actually earnt.

ACG

There are lenders who will look at how much you have earned for the last 12 months and use that.

Probably one for a broker though as some lenders may have issues with it.

Kench79

Thanks. I'm not completely against getting a permanent contract again if it would give me more options in regards to the amount of lenders available to me. My current zero hour contract is allowing me to save a lot more than I would otherwise be able to towards my deposit which is my main reason for doing it. If I was unable to secure a mortgage with that contract, how long would I need to be in a permanent contract for before reapplying?