Can I get a mortgage on a Fixed Term Contract?
Whilst the majority of the contractor clients we speak with daily are contracting through their own limited companies or umbrellas, on daily or hourly rates, there are also a rising number of enquiries for contractors working on fixed term arrangements with their employers. This may give the impression to those working as fixed term contractors (FTC’s) that the contractor mortgage products we arrange are simply not available.
The main document required to utilise the bespoke contractor underwriting we have arranged on exclusive basis’, with the likes of banking giant Barclays, would of course be the contract. As long as there is a contract signed by both the FTC and the employer, it is possible to apply the same bespoke underwriting process to the mortgage application.
It is worth noting too that every lender works with different criteria, and as a result there is no set minimum time to be working as an FTC to be eligible for a mortgage.
To speak with one of our qualified consultants and explore your options further, please call us on 0333 370 88 88, or email email@example.com to arrange an appointment.