If you’re employed on a zero hours contract or working as part of the gig economy in Liverpool, you might feel unsure about your chances of securing a mortgage. At CRC Mortgages, we understand the unique hurdles you face as a flexible worker, and we’re here to help you explore your options and find mortgage products suitable for your circumstances.
Securing a Mortgage on a Zero Hours Contract in Liverpool
As the job market continues to evolve, many people in Liverpool have embraced flexible employment such as zero hours or temporary contracts. Although this arrangement provides freedom and flexibility, it can also complicate mortgage applications. Traditional lenders often prefer applicants with predictable, consistent income, which makes it challenging for gig economy workers to secure mortgages.
Fortunately, at CRC Mortgages Liverpool, our experienced mortgage advisors recognise these challenges. We will work closely with you to help you understand your mortgage options clearly. With our deep understanding of the Liverpool property market and lending sector, our advisors will do their utmost to support and guide you through the application process as smoothly as possible.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £449 to £699 and this will be discussed and agreed with you at the earliest opportunity.
If you would like to speak with an adviser,
please contact us below.
Why Choose Our Mortgage Brokers in Liverpool?
When it comes to applying for a mortgage on a zero-hours contract, choosing a knowledgeable and supportive broker is essential. At CRC Mortgages, our advisors specialise in helping flexible and gig economy workers navigate the complexities of mortgage applications.
Here are some reasons why choosing us may benefit your application:
- Knowledgeable Advisors – Our team possess extensive experience assisting zero-hour contract workers and gig economy professionals in Liverpool.
- Bespoke Guidance – We understand everyone’s situation is different. Thus, we provide tailored recommendations to suit your individual needs as closely as possible.
- Transparent Communication – We communicate clearly and honestly, guiding you through each stage from the initial enquiry up to application completion.
- Local Liverpool Market Insight – Our local knowledge helps us understand your position within the Liverpool property market, providing valuable guidance and direction.
Remortgaging with a Zero Hours Contract in Liverpool
If you are currently employed on a zero hours contract and considering remortgaging your property in Liverpool, CRC Mortgages can help. Remortgaging could potentially help you reduce your monthly repayments, release equity, or find mortgage terms more suited to your current situation.
However, remortgaging while on a zero-hours contract might present certain complexities. Our mortgage advisors will guide you through the available options, helping you make a well-informed decision based on your current circumstances.
What Documentation Do I Need For a Zero Hours Contract Mortgage?
Mortgage applications on zero hours contracts typically require additional documentation compared to traditional employment. Lenders usually require:
- P60s or payslips from recent months
- Contract confirmation or evidence of expected ongoing work
- Recent bank statements (typically three months, sometimes longer)
- Proof of identity and address
Our dedicated mortgage brokers will guide you on the exact documentation required as clearly as possible, aiming to streamline the process and minimise delays.
Frequently Asked Questions About Zero Hours Contract Mortgages Liverpool
Can I get a mortgage if I am employed on a zero hours contract?
Yes, some lenders consider applicants on zero hours contracts. It often depends on the consistency of your overall income, how long you’ve been in this employment, and your wider financial situation. Our advisors can help you explore suitable mortgage products.
Will being a gig economy worker prevent me from getting a mortgage?
No, being a gig economy worker does not necessarily prevent you from obtaining a mortgage. However, it may limit your available lenders and require additional documentation. Our advisors will aim to help you find mortgage solutions tailored to your employment circumstances.
How long do I need to have been on a zero hours contract to get a mortgage?
Many lenders prefer at least 12 months’ employment history on a zero hours contract; however, some may consider shorter periods. Our experienced advisors will help identify suitable lenders given your employment timeline.
Will my mortgage rates be higher if I am employed on a zero hours contract?
Mortgage rates depend on multiple factors, including your credit history, deposit amount, and the lender’s assessment of risk. While flexible employment may impact lender choice, working with our advisors can help you access suitable rates and terms.
Get in Touch With Our Liverpool Mortgage Advisors Today
At CRC Mortgages, we actively support Liverpool residents working on zero hours contracts or within the gig economy. Contact our friendly advisors today, and we will be happy to assist you in understanding your available mortgage options clearly and thoroughly.