Fixed Term Contract Mortgage Lenders

Fixed Term Contractor

Fixed Term Contracts are becoming more popular and they allow for an increased flexibility and transition in work roles for both the employer and employee.

Lender Requirements

Getting a mortgage on a fixed term contract can prove tricky as lender criteria varies vastly. Some lenders will ask for at least 12 months experience and then other lenders will ask for the contract to have been renewed at least once already, or to have 24 months remaining on the current contract.

This isn’t always possible, especially as the more typical fixed term contracts these days we are seeing are fixed for 6 month periods. In addition, if you are coming to the end of your fixed term contract some lenders will also ask for evidence that your current contract will be renewed. Again, this confirmation is not something that can be easily obtained and it is unlikely that some employers would want to make that commitment in writing.

Can I get a mortgage in a new Fixed Term Contract with no experience? 

The minimum requirement we have come across is that you must be 7 months into your Fixed Term Contract to evidence sustainability and competency with no minimum salary requirements. We can also place you with a lender who will not have a requirement for any minimum time remaining on the contract.

Our brokers will be able to review your Fixed Term Contract and let you know which lender will be the most suitable based on the terms of that contract. You can live chat with a specialist mortgage broker and discuss your options.

To assess your application, mortgage lenders will typically ask for your signed contract (signed by all parties) with all pages showing the full terms and conditions. If you have a history of working in the same or a similar role with other companies, the lender will ask for this to cover a 2 year period. If not, we can work with what you have and carry out our research for you free of charge. There is also no broker fee to submit your mortgage application.


➡ Get a Mortgage Quote with us in 60 seconds


Ben - Author


Author: Ben, Glow Mortgage Advisor (CeMAP, BSc Hons)

Date Published: 26th July 2019