Fixed Term Contracts

Loans up to and including 90% LTV

  • For cases up to 90% LTV, the Society will consider Fixed Term Contracts applications where the applicant has had continuous employment of 12 months or more and has 6 months of their current contract remaining, or the applicant has 2 years continuous service in the same type of employment.

Loans over 75% and up to 90%

  • a copy of the current employment contract or an employers’ reference is required as proof of income and employment, as well as 3 months’ payslips and 3 months’ bank statements.

Loans under 75% LTV

  • a copy of the current employment contract or an employer’s reference is required as proof of income and employment, as well as 1 month’s payslip and bank statement.

NB.

  • The Society will normally only consider the income from a fixed term contract where the contract is likely to be renewed.
  • Applicant(s) who are on a fixed term contract, but who invoices the employer via their own business (Limited Company), are treated as a self employed applicant(s).
  • The Society will not consider fixed term contracts in cases over 90% LTV.