Zero Hour Contract Mortgages

Zero Hour Contract Mortgages in Livingston

Lothian Mortgage Services offers independent zero hour contract mortgage advice throughout Edinburgh and the Lothians. We provide expert advice on how you can get a mortgage as an employee who is currently working on a zero hour contract. For more information or to book at appointment, call our team today.

Mortgages for Zero Hour Contracts

Zero hour contract workers tend to find it difficult to meet mortgage lenders borrowing criteria and can find it difficult to meet mainstream lending. Whilst being on a zero hour contract provides a flexible approach to working, many tend to encounter challenges when it comes to borrowing, precisely because they don’t have a contract which guarantees future hours. A number of mortgage lenders refuse these types of applicants as they won’t meet their affordability criteria. At Lothian Mortgage Services, we have access to a range of mortgage lenders who offer zero hour contract mortgages to applicants, for more information contact our team. 

What is a zero-hour contract?

This type of contract allows for employers to hire you as a staff member without guaranteeing that they will have consistent work for you each work, while some people believe employers are the ones who benefit most as they only use you when needed, often short notice to cover sick days and holidays. The staff who choose to work these contracts also benefit as they are flexible working hours and does not hold them down to the same number of hours each week.

Contract Worker Mortgages

It is becoming more and more common customers coming to us in a disarray unsure how they will be able to get a mortgage as a worker on a zero-hour contract. They often work on these types of contracts as they are flexible around being a parent or studying and here at LMS we understand totally why some people prefer this type of employment. The issues start to arise around this sort of contract when it comes to getting a loan or even more importantly a mortgage. lf you cannot guarantee how many hours you will be working week to week it is understandable why the bank is very hesitant to give out large amount of money. Some of the most common reasons why people are not accepted as zero hour contract workers:
  • ​Certain Lenders do not Accept These Types of Workers
  • First Contract as Lender Looking for Some Credit History
  • Insufficient Hours Worked

Can I Get A Mortgage On A Zero Hour Contract?

The simple answer is Yes, with the right expert advice. Before customers who are in a similar situation to yourself {working on a O-hour contract) come to us they have often been point blank refused by a bank they applied to. This is where our impartial and expert mortgage advice shows. We have built up relationships with mortgage companies over the many years in the industry so are aware on what banks / mortgage brokers are willing to lend. Of course, it is not as straight forward as coming to Lothian Mortgage Services and all your mortgage worries as a contract worker disappear. There is a certain criteria that these select lenders need to be met before you will be considered for a mortgage. The criteria you must meet to obtain a mortgage as a 0 hour contract worker:
  • ​Have worked for more than 12 months with same employer.
  • Or worked in same type of work with different employer for more than one year
  • You have a P50 and recent pay slips showing income.
lf you believe you meet the criteria above then great news you stand a great chance of being able to obtain a mortgage while continuing your work as a zero hour contract worker. Our team of expert mortgage advisers look forward to hearing from you so we can help you land your dream home!

Zero Hour Contract Mortgages from Lothian Mortgage Services

We access each mortgage application on an individual basis and our brokers will review affordability based on each applicant’s unique circumstances. We provide advice and support to all applicants and consider those who don’t have contracted hours of employment but still demonstrate a regular income pattern.

Why choose Lothian Mortgage Brokers?

At Lothian Mortgage Services our team of professional mortgage brokers have all of the skills and experience required when it comes to providing quality zero hour contract mortgages. Whatever your requirements or specifications, rest assured that you’re in trusted hands, this is shown through the important credentials we possess, including:
  • Approval by the Financial Conduct Authority (FCA)
  • Membership of the Chartered Institute of Bankers in Scotland
  • Certified in Mortgage Advice and Practice (CeMAP).
When it comes to a zero hour mortgage contracts, it’s more important than ever to use a mortgage adviser to seek professional advice. A good independent mortgage broker like the team at Lothian Mortgage Services will be able to advise whether you’re likely to be able to obtain a mortgage, but also which lenders are most likely to provide an appropriate mortgage. Our experience means that we have access to a range of mortgages for those with zero hour contracts, so we’ll be able to assist by finding the right mortgage option for you.
Free Mortgage Advice
If you did not meet the current criteria please do not hesitate to get in contact with us for some FREE advice on what is the best next steps you can take. Lothian mortgage Services are here to help you land your dream property! All our team will be happy to help with any questions or queries you may have.

Contact Lothian Mortgage Services Today!

Please do not hesitate to get in contact with or team today to discuss how you can obtain a mortgage on a zero hour contract, Our initial consultation is completely FREE and comes with no obligations after that. Call us today on ​0131 215 1007 or via the ​contact form below.