FTB w/second job zero hours...

od017

Hi,

Just hoping for a little bit of advice. I am a first time buyer with a deposit of £40,000. Main income is £33,000 [permanent] but have an additional p/t job on a zero hours contract paying approx. £15,000. I have had this particular contract since July 2013, although I've had continuous service with this employer since January 2009.

Mortgage advisor has said that the extra £15,000 can be considered in full when applying [have DIP], but I'm wondering if anyone has experience of a similar situation who could put my mind at ease. I'm aware of how massively significant the extra £15,000 is in terms of what sort of house I can afford, so trying to manage expectations... I'm buying alone.

Many thanks in advance.

f2f

Standard response for this board: "Depends on the lender; a good independent broker would match you up with a lender who would take this income into account if you need it to meet affordability"

kingstreet

Some lenders will take such income into account if there is a longer-term record of receipt of the income, perhaps a year or two.

Therefore, your advisor appears correct, assuming they have the correct lender(s) in mind, of course.

od017

Thanks for the responses