When it comes to home loans, every case is completely unique and needs to be looked individually. This means the depending on your circumstances you might fit into an unusual employment loans category. If this is the case, this information will help you get started.
The following categories fit under unusual employment or job situations:
- On maternity leave
- Casually employed
- Recently self-employed
- Working as a contractor
- On probation period
- Working multiple jobs
If you fall under any of these circumstances, we can still help you with your unusual employment loan. Just because you don’t fit within the standard criteria for a home loan doesn’t mean that you are not eligible for one.
Your application process will be different to a standard loan however our team of mortgage brokers have been through this process countless times, therefore are able to enhance your success rate.
What will increase my chance of approval?
There are a number of ways to help increase your approval rate when it comes to non-traditional employment circumstances when applying for a home loan. Here are our top tips for unusual employment loans and increasing your approval rate:
- Remove existing debt – If you have any credit cards or personal loans, it would be most beneficial to consolidate this debt so that you can be eligible for lower interest rates.
- Check your credit file – Review your credit file so that you can understand how you will be seen as a borrower. This will also be a good chance to check there are no enquiry errors on your file.
- Employment details – Offer as much information as possible when it comes to your employment details so that the lender can effectively assess your earning potential. Group certificates and bank statements are an effective way to show your earnings.
- Chat to our team – Speak to a mortgage broker about your borrowing capacity, our team of experts have a deep understanding of home loan eligibility and will be able to find you the right specialist lender.
Call or email our team now on 1300 088 065 or send an enquiry here to speak further about your eligibility for unusual employment loans.