How a contractor transition
was agreed outside policy
After being told she could not get a mortgage, a client about to become a day-rate contractor was agreed outside standard policy despite a six-month employment gap.
At a glance
- Customer: New day-rate contractor
- Challenge: Six-month employment gap
- Outcome: Agreed outside standard policy
What made the difference
The lender agreed to consider the contractor transition and employment gap outside its usual policy, allowing the client to proceed straight away.
Told she could not get a mortgage
The client had experienced a six-month employment gap and was preparing to move into a day-rate contracting position.
She had been told that this combination meant she could not obtain a mortgage. Her circumstances did not fit the standard contractor policy being applied to the case.
Asking for outside-policy consideration
We approached a lender with the client’s circumstances and asked it to consider the application outside its usual policy.
The lender agreed to make an exception for the contractor transition and six-month employment gap.
Able to proceed straight away
With the case agreed outside standard policy, the client could continue with her mortgage plans immediately.
She did not need to delay her plans solely because she was moving into day-rate contracting following an employment gap.
Moving into contracting?
A recent employment gap may not mean waiting. Let’s find out which lenders could consider your circumstances.
Important information
This story describes one application and does not guarantee the same outcome for another applicant. Mortgage availability and borrowing amounts depend on your income, circumstances, employment or contract position, the property and lender criteria. The customer has been anonymised to protect her privacy.
Your home may be repossessed if you do not keep up repayments on your mortgage.
How to apply
Call Team Muttuo
Discuss your accounts and borrowing needs. Open Mon–Sat, 9am–5pm.
