Contracted Employment / Mortgage?

Legacy_user

Hey!

My partner and I have been saving for our house deposit and we are getting closer to having the full amount we need.

The only thing is that my partner's job is contracted through an employment agency. He has been employed with them for 6 months on the rolling contract, (others have been on the same contract for years (so not like it's not totally permanent if that makes sense). I have been with my current employer for 4 years so all good on my end.

Am I right in saying that no lender will offer us a mortgage based on our two incomes combined?

Any help at all is much appreciated!

ironmanjason

I'd let the expert answer.. but in our case my wife is a contractor (been doing it for less than 2 years).. they asked her for 1 year contract history.. i've read that if its less than a year some banks will ask for 12 months left in your contract or so..

MortgageMamma

Lenders will consider contractors, to get the better rates you need to be able to prove your partners been contracted previously to this engagement or employed in a similar line of work

What type of work does your partner do? Does he have an hourly or daily rate?

System

Thank you so much for your help! He was in full time employment before but in a different line of work. Left for better money and hours. It’s factory work and is paid by the hour.

To be honest we thought it would all have to be based on my salary so good to know it can be considered and fingers crossed we can borrow more!

LRmortgage

Personally I think you will struggle to use his income until he has been in the Agency job for at least a year.

Hourly paid through an Agency is not the same as “contracting”.