Flexible Lenders re overtime/non perm work

tightasagnats

Hello folks,


I've been advised some mortgage lenders are more flexible with overtime or non-perm contracts. Most of my work is permanent and then a few hours a week (for same employer of 13.5 years) is on a temp teaching contract (reviewed annually - 2 years so far).


My current mortgage lender (Barclays) will go to 4.49 times salary (but may not include the temp work). Any thoughts on lenders who may do higher multiplier and include temp work in calcs? (It's about £240 a month after tax.)


Credit etc all v good no loans/debt/CCjs blah blah.


Thanks!

Xyzzy

hi tightasagnats, I'm not sure about other lenders but it sounds like Halifax would use this other income. They can take income from a fixed term contract so long as you've had the contract for at least 12 months with 6 months remaining. They would want to check it's sustainable and received all year round, and make sure it is reasonable to do this alongside your main work eg. it doesn't result in you working a ridiculous number of hours

tightasagnats

Thanks for your helpful info. Much appreciated. Hours are 4 days a week in total so that's OK.

Any idea about max multiplier of income?

Have a good day.