ZERO HOURS
CONTRACT MORTGAGES

Zero hours contracts mortgages are specialised mortgage products designed for individuals employed on zero hours contracts. These contracts do not guarantee a minimum number of working hours, leading to unpredictable income. Zero hours contracts mortgages are specifically tailored to accommodate this unique income structure and provide lending solutions that help these individuals secure financing for property purchases. They consider the fluctuating nature of income and offer flexible terms and criteria to ensure affordability and access to homeownership opportunities.

Absolutely! Despite being on a zero hour contract, you can still secure a mortgage. Lenders understand the variability of income in such contracts and have adjusted their assessment methods. They evaluate your affordability based on your average earnings over a specific period, usually between 12 to 24 months. Factors like income history, industry stability, employment duration, credit history, and existing debts are considered. Collaborating with a specialised mortgage broker can greatly assist in navigating the process and connecting you with lenders who are open to considering your application.

Yes, there are lenders who specifically offer mortgages for zero hours contract workers. These lenders understand the unique income structure of zero hours contracts and have tailored their mortgage products to accommodate individuals in this situation.

Your irregular income on a zero hour contract can impact your mortgage application, as lenders typically assess affordability based on consistent income. However, some lenders have adapted their assessment methods to accommodate individuals with irregular income. They may consider your average earnings over a specified period, industry stability, and employment history to determine your eligibility for a mortgage. Working with a specialist mortgage broker, like ours at ams: will help you find lenders who are experienced in dealing with irregular income situations and increase your chances of securing a mortgage.

Yes, it is possible to get a zero hour contract mortgage even with bad credit. While having a bad credit history can make it more challenging, there are lenders who specialise in providing mortgages to individuals with less-than-perfect credit. Talk to us at ams: we can help you navigate the process and connect you with lenders who are willing to consider your application, even with bad credit. These could include CCJ, IVA and DMP bad credit situations.

Certainly! Even as a temporary or agency worker, you can still obtain a zero hour contract mortgage. Lenders recognise the unique nature of these employment types and have tailored their mortgage offerings accordingly. Affordability is assessed based on your average earnings over a specific period, considering factors such as income history and stability.

When applying for a zero hour contract mortgage, working with a mortgage broker specialised in this area can be highly beneficial. A mortgage broker, like ams: has in-depth knowledge of the lending landscape and can connect you with lenders who understand the unique income structure of zero hour contracts. We have established relationships with these lenders and can advocate on your behalf to secure the most favourable mortgage deals.

A mortgage broker experienced in zero hour contract mortgages will guide you through the application process, ensuring that you provide the necessary documentation and information to demonstrate your affordability. They can help you navigate the complex requirements and criteria set by lenders, maximising your chances of approval. Additionally, they can provide valuable advice and recommendations based on their expertise, helping you make informed decisions.

By partnering with a specialist mortgage broker like ams: you will save time and effort in researching and approaching multiple lenders individually. The broker acts as an intermediary, streamlining the application process and handling negotiations on your behalf. Their goal is to find the right mortgage solution for your specific circumstances, considering your specific income fluctuations and financial goals.