Lending criteria for fixed term contract income
Lending criteria
Fixed term contract income
Can be accepted provided that at least 12 months of a contract are remaining, or where there's a 12 month track record of income from contract work.
Evidence Required
- A copy of the current contract
- A copy of the most recent bank statement
- To obtain a 12 month track record of contracts or p60s can be used (where <12 months remains on current contract)
- If <2 months remaining on current contract then evidence of contract renewal/new contract is required
- 75% LTV - Latest payslip
- Above 75% LTV - Latest 3 payslips
- Umbrella: Latest 3 months payslips/invoices and latest 3 months personal bank statements.
Common-sense lending
We will consider cases that are outside of our lending policy in this area if you get in touch.
Relevant case studies