Mortgage on zero hour NHS bank contract

Evening all,

I'm a band 5 registered nurse who is employed solely by the NHS nurse bank, on a zero hour contract. However as a nurse, there is always lots of work going, so while it is a zero hour contract I'm on, I will always have work, unlike the uncertainty of zero hour contracts in other industries.

Would there be any chance of me securing a mortgage with this type of employment?
I've been employed by them for approximately 5 years. 

Comments

  • ACG
    ACG Posts: 23,621
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    Yea, you will be fine. 
    Most lenders will average out 3-6 months payslips and annualise them. If you use a broker this should be fairly straightforward for an experienced broker. If you are doing it yourself, just double check the lenders stance before hand. 

    Although I always remember a lender wanting 2 years payslips... 104 payslips! That was fun and games putting all of the figures into a spreadsheet so I could check we had them all. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • BubbleTea
    BubbleTea Posts: 9
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    ACG said:
    Yea, you will be fine. 
    Most lenders will average out 3-6 months payslips and annualise them. If you use a broker this should be fairly straightforward for an experienced broker. If you are doing it yourself, just double check the lenders stance before hand. 

    Although I always remember a lender wanting 2 years payslips... 104 payslips! That was fun and games putting all of the figures into a spreadsheet so I could check we had them all. 
    Great, thank you. I guess I better actually start keeping my payslips, they tend to be disposed of as soon as I've checked how much I'm going to be paid that week! 
  • grumbler
    grumbler Posts: 58,629
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    edited 7 February at 9:05PM
    ACG said:
    ...

    Although I always remember a lender wanting 2 years payslips... 104 payslips! That was fun and games putting all of the figures into a spreadsheet so I could check we had them all. 
    What's wrong with P60?

  • ACG
    ACG Posts: 23,621
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    grumbler said:
    ACG said:
    ...

    Although I always remember a lender wanting 2 years payslips... 104 payslips! That was fun and games putting all of the figures into a spreadsheet so I could check we had them all. 
    What's wrong with P60?

    We had to apply to a little building society because of other issues with the application. 
    They wanted a 2 year employment history. P60s would have shown how much she earned in a year but not that she worked throughout the whole year. She could have had 6 months working and 6 months off - still equates to the same income, but then falls out of criteria on length of time in employment. 

    Good question though, I had to go and check on the file as I just thought I had been extremely stupid for a minute. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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