Mortgage for zero hour contract

mailsmsi

Hello

I am working for eight years. Paid monthly to bank account but hourly rate and zero hour contract. Getting approximately gross 30000 (Have the P60) .On April my gross is 1800


I approach to bank.

Halifax

Zero hours contracts

Applications from customers employed on a zero hours contract will be considered. The total of the last 12 calendar months income only will be used and all the income must be evidenced.



Natwest

Last 12 month average



Barclays

Varies according to situation



HSBC

yes
but if last three month is lower ,they will accept last three month.


loyds
Zero hours contracts can be considered subject to Underwriter referral.
http://intermediary.tsb.co.uk/criteria/residential/default.aspx


No mortgage to zero hour

Nationwide ,Chelsia ,Leeds,Virgin Money ,Accord


Which other bank can I try?

I get child benefit which most of the parents get .

kingstreet

Independent mortgage broker who will find you the best deal from the lender which best suits your circumstances.

mailsmsi

I want to apply myself and explore

csgohan4

mailsmsi wrote: »

I want to apply myself and explore

Brokers on here are not allowed to recommend which lenders. If you want to do it yourself, expect to do all the leg work.


Do you think it's wise to run up multiple credit checks on your credit file?? by applying yourself?


Your circumstances are not straightforward and you really do need a broker to see if it can be done

kingstreet

mailsmsi wrote: »

I want to apply myself and explore

Ok. No worries.

mailsmsi

Related Links

http://intermediary.natwest.com/home-options.asp?page=HOME/LENDING-CRITERIA/EMPLOYMENT-TYPES

https://www.halifax-intermediaries.co.uk/criteria/mortgage/default.aspx


http://www.intermediaries.hsbc.co.uk/criteria/residential-lending-criteria.html

http://www.woolwichintermediaries.co.uk/Residential/Allowableincometable/IP1242621751665

https://intermediaries.virginmoney.com/virgin/assets/pdf/lending_policy_criteria.pdf

mailsmsi

For Benefit as a income ,Generally it varies case to case

*HSBC critera is tough
*Barclays ,Natwest Halifax accepts mostly accepts

https://intermediary.tsb.co.uk/pdf/mortgage/TSB_Mortgage_Intermediary_Criteria%20guide.pdf


Natwest
We consider up to 100% of income including:
• Working/Child Tax Credits
• Child Benefit (provided the applicant earns less than £50,000 a year)
• Court ordered Child Maintenance*
• 2nd & 3rd job wages*
• Foster & Carers’ Allowance
• Disability Living Allowance/Personal Independence Payment
• Earnings from temp/agency or contract workers**
• Commission and overtime*
• Regular bonus payments* (50% of all discretionary annual bonuses considered)***

http://intermediary.natwest.com/downloads/natwest/NatWestLendingGuide.pdf

deano3

Thanks for taking the time to post the above. My wife is on 0 hours so that is very helpfull.

mailsmsi

Tesco also accept zero hour contract income.
But they have a product fees of 195 for all mortgages.

http://www.tescobank.com/mortgages/
http://www.intermediaries.hsbc.co.uk/frequently-asked-questions.html#income

mailsmsi

updated)
Not accepted on Clydesdale Bank ,post office,aldermore

Only for teacher http://www.teachersbs.co.uk/

Loyds accept zero hour contract also