UNUSUAL EMPLOYMENT
UNUSUAL EMPLOYMENT:
-> SELF-EMPLOYED
-> ON PROBATION
-> CASUAL WORK
-> CONTRACT WORK & SUBCONTRACTOR
-> AGENCY WORK
-> CENTRE-LINK INCOME
Employment conditions different from the traditional permanent full-time part-time work.
Not every everybody has a traditional permanent full-time or part-time job. For those people might a bit more complicated to get a home loan. Some banks have a conservative policy and do not (or make it more difficult) offer a home loan to people working under unusual employment conditions. However, if your bank is not willing to help you, do not desperate. There are other lenders with a more flexible policy willing to take in consideration unconventional incomes.
Some of the common unconventional employments are:
- Casual work
- On probation
- Contract work and subcontractor (PAYG contractor or Self-Employed contractors)
- Agency work
- Self-Employed
- Centre-link income (family tax benefits, child support/maintenance, pension, etc.)
An expert advice becomes crucial as only some bank might accept a specific income. Also, some incomes might be accepted only as an extra income (not as a sole income) by some lender, other incomes might not accept by any lenders (this is the case of some specific centre-link pensions only). This is because lenders’ policies are different and only an expert Mortgage Broker can master them.
