Mortgage on zero hour NHS bank contract

BubbleTea

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. 

ACG

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. 

BubbleTea

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

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

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.