Mortgages for Temps and Agency Workers
Find out how expert advice could help secure the mortgage you need whilst on a temporary contract
Firstly, what is your employment status?
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At OnlineMortgageAdvisor we know that everyone's circumstances are different. That's why we only work with expert brokers who have a proven track record in securing mortgage approvals
- Specialists in temporary contract mortgages
- Higher chance of approval
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- No impact on credit score
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If you have any questions,
feel free to call us on 0808 189 2301
We’ll explain how you can still get a mortgage if you’re a temporary or agency worker, what information mortgage lenders will want to see and why speaking with a mortgage broker is a smart first move.
Can agency workers get a mortgage?
Yes, it’s possible. But, you may find the process more difficult without some expert support and advice. There are lenders out there who can offer mortgages to UK agency workers, but the available pool of lending options will be quite small.
Ideally, the process will be much smoother if you have a fixed-term contract with your agency, and are you able to show evidence of consistent income. There’s no need to worry if your work contract isn’t fixed. If you speak with a knowledgeable broker, they’ll still be able to introduce you to appropriate lenders who can cater to your situation.
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Can you get a mortgage with a casual or temporary job?
This is definitely still possible, but your range of options will depend on your circumstances and the level of income proof you’re able to provide. If you’re a gig worker or operate on a casual, freelance, or temporary basis, it’s worth using all available tools at your disposal to make sure you can borrow the amount you need and still end up with a competitive mortgage.
How to get a mortgage on a temporary contract
Your first step should be to find a mortgage broker who specialises in helping temporary contract workers get onto the property ladder. Make an enquiry with us and we will match you with an advisor who has this expertise for free.
Your mortgage broker will guide you through the following steps:
- Preparing all the documentary evidence and paperwork required for a mortgage application if you’re a temporary worker
- Downloading and optimising your credit reports to identify any inaccuracies or outdated information that could hinder your chances of approval
- Finding the right mortgage lenders who will look favourably on someone working on a temporary or agency contract and securing the best rate available
This first step can be particularly important if you’re a UK agency worker looking for a mortgage. Each lender will request a variety of documents, but if you get everything to hand before you begin, it will lead to a much smoother application process and allow your broker to introduce you to the right lender based on the info you have.
Along with standard documents like photo ID, proof of address, and recent payslips – many lenders will want to see copies of your P60 for the last few years. It’s also worthwhile getting evidence of your current and past contracts. The more details you can provide, the better.
Lenders will check your credit history during the mortgage application process. The best way to make sure you’re not hit with any surprises is to download all your credit reports and check them for mistakes. Your mortgage broker will also be able to help you evaluate the reports and point out any areas for improving your credit score.
Don’t panic if you’re a temp or agency worker with bad credit, an experienced mortgage broker will still be able to find you a competitive mortgage. This could involve dealing with specific bad credit lenders who are more comfortable with bad credit applicants or exploring alternative solutions.
Each contract situation is likely to be very unique if you’re a temporary, casual, or agency worker. The best way to get bespoke advice and find a top mortgage deal is by using a specialist broker. Using a broker who specialises in this area means they have existing relationships with lenders, providing you access to exclusive deals.
The brokers we work with have a proven track record of securing mortgages for clients just like you. If you’d like to be put in touch with a specific agency and temporary worker mortgage broker, just make an enquiry. We’ll introduce you to one for free today.
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We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*
Eligibility and affordability requirements
If you want to know some of the important areas for lenders with regard to eligibility and affordability, here’s how your mortgage deal could be affected if you’re an agency worker or are employed on a temporary/casual contract basis:
How much you can borrow is largely determined by a multiple of your annual salary or income with the most common being 4.5 times your annual salary. As an agency or temporary worker, it may be the case that your income fluctuates over time depending on the contract. Most mortgage lenders will take an average over a specific period – typically 12 months – to use for this calculation.
But, some can use the most recent earnings or your latest contract if the figures are higher than in the past. You may also be able to include additional income you get from other sources, or alternatively, low-income mortgages are another option you can look into.
You can see how this could work out for you by inputting your average yearly earnings into our calculator below.
Mortgage Affordability Calculator
Our affordability calculator can tell you how much you can potentially borrow from a mortgage lender. Simply enter your total household income below and our calculator will do the rest.
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
With some lenders, you’ll need to prove you’ve been under contract as an agency worker for a specified period of time. The minimum is often around 12 months. These timeframes can vary, so it’s worth dealing with a lender that fits your needs.
Certain lenders will be comfortable with all types of contracts but some will only deal with fixed-term contracts. Or, they won’t be willing to discuss a mortgage if your contract specifically states that it’s temporary agency work, short-term, zero-hours, you’re currently in a probationary period or seasonal.
Speaking with a lender who can accommodate your particular contract set-up will make the process much more straightforward.
For the majority of lenders, you’ll need to show evidence that you’ve been under continuous employment through contract work for a set amount of time. However, there are lenders who are more lenient and will permit gaps of up to 6 weeks between contracts.
Loan-to-value and deposits
If you’re a temporary contractor or working for an agency, there are some lenders out there who will only offer mortgages with a maximum loan-to-value (LTV) ratio of around 80%. This means you’d need at least a 20% deposit to qualify.
If you’re not able to save this level of deposit, don’t fret. A skilled broker will still be able to find a mortgage solution with a smaller deposit (but at least 5% – 10% would likely be required as a minimum).
Proof of income
Proving your income can be harder than someone who is employed and can provide regular payslips to confirm their salaried income. Your latest P60 statements and contracts confirming payment details should all be sufficient proof for most mortgage lenders. As stated above, the more information you can provide regarding your earnings, the better.
My partner and I were both in temporary agency work with no contract and thought it would be impossible to get a mortgage as we were unable to obtain a mortgage through a 'normal' lender. I am so grateful for Online Mortgage Advisor for providing this service.
Very helpful for contract workers
They were the only ones out there who seemed to be interested in our particular mortgage need - we're both on short term contracts. Ashley, the advisor assigned to us, was invaluable in finding what we needed and guiding us through the process.
We can't believe how easy all this was…
We can't believe how easy all this was no pressure, no jargon, nice and simple, and just a phone call away. Every think was broken down. Omar was made call when needed. Everything was done by email too. And documents needed or information was easy. It was stressed free and friendly for us.
Gail Toni Marnell
Rated 4.8 out of 5 stars across Trustpilot, Feefo and Google
Mortgage lenders for temporary and agency workers
The lenders available to you will depend on your situation. But to give you an idea, here are some major UK lenders who are open to offering mortgages for agency and temporary workers:
- Nationwide Building Society
If you want to see your full range of options, using an experienced mortgage broker is the best course of action. They’ll be able to show you all the relevant choices from across the UK based on your individual circumstances and type of income.
Speak with a temporary and agency worker mortgage expert
If you’re an agency worker or have some kind of rolling temporary contract for your work, using an experienced UK mortgage broker is the best way to secure a top deal to buy the property you want.
We offer a free, broker-matching service. This means we’ll quickly assess your needs and income type, then pair you up with a specialist mortgage broker.
Just call 0808 189 2301 or make an enquiry. We’ll set up a free, no obligation chat between you and your ideal mortgage broker today.
Ask a quick question
We know everyone's circumstances are different, so if you have a specific question about getting a mortgage with your temporary contract get in touch.
Ask us a question and we'll get the best expert to help.
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