Mortgages for Agency Workers

Mortgages for Agency Workers

Compare Latest UK Mortgage Deals

Mortgages for Agency Workers

Mortgage lenders can sometimes be a little more reluctant to offer mortgages to agency workers because, unlike a person in more traditional employment, they don’t offer the security of a guaranteed salary.

However, there are ways for agency workers to prove that they can afford to make mortgage repayments without needing the backing of a permanent employer. In the past, many agency workers have had to opt for self-certified mortgages, which can be expensive. However, there are lenders who will offer mortgages to agency workers based on the same kind of rates as those offered to traditional employees.

How are mortgages for agency workers assessed?

Mortgage applications for agency workers are assessed in differently from traditional mortgage applications. Instead of looking at traditional forms of income assessment, lenders will use specialist underwriting criteria. A normal mortgage application will be assessed on the basis of your salary – which meant that, in the past, many agency workers faced difficulty securing the mortgage they wanted. However, many mortgage lenders will assess an agency worker mortgage application on a case by case basis, using a combination of factors which might include:

  • Your agency rate
  • The duration of your current employment
  • How long you have been working with the agency

Key points to remember when looking for mortgages for agency workers include:

  • Find a specialist mortgage broker – a mortgage broker who is familiar with the needs of agency workers could help you to get the best deal available.
  • Aim for a high deposit if possible – the higher the deposit you can put into a property, the less risk the lender is taking on. This can mean lower rates for buyers.
  • Check your credit score – this is important for all mortgage borrowers, but it’s especially important for people seeking mortgage from a non-traditional employment background, as it reassures the lender that you have a good history of making repayments.
  • Gather all your documentation  – most importantly, you will need an up-to-date copy of your contracts, pay slips and other documentation relating to your agency work. This gives lenders a clearer picture of your income.

Top UK Mortgage Offer

Initial Term
2 Years
Initial Interest Rate
Reverts to 4.74%
Product Fee
Call Post Office FREE on 0808 178 6813

Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.

Post Office Buy To Let Mortgage Offers

Interest Only Buy To Let Mortgage Deal

  • Up to £500 Cashback
  • Top 2 & 5 Fixed Rates
  • Standard valuation fees paid by Post Office

Call Post Office FREE on 0808 178 6813

Go to Post Office website »