Affordability calculator Gen H Pro log in
Application β All guides
Customer β All guides
Income and employment β All guides
Property β All guides
Packaging guide β All guides
Completions
Contract workers
We will take 100% of a contract worker's income subject to them meeting the following requirements:
Fixed Term and Day Rate Contracts
Can be considered where the applicant has 12 months continuous employment within a similar role and industry.
The applicant must have a minimum of 3 months remaining on their current contract at the time of the application being submitted or have a future contract in place.
Applicants with less than 12 months continue employment within a similar role may be considered if working in a skilled or professional role.
Day Rate Contractors income will be calculated as follows;
Annual Income = Day Rate x 5 x 46
Documents we require;
- Latest contract
- Latest 2 months payslips/invoices
(To verify 12 months continued employment)
- 12 months payslip OR
- 12 months bank statements OR
- Latest Sa302 OR
- Latest P60
Zero Hours Contracts
Can be considered where the applicant has 12 months continuous employment within a similar role and industry and continued employment can be verified.
Documents we require;
- Latest contract
- Latest 2 months payslips/invoices
(To verify 12 months continued employment)
- 12 months payslip OR
- 12 months bank statements OR
- Latest Sa302 OR
- Latest P60
Construction Industry Scheme (CIS)
Should be entered as fixed term contractors.
Can be considered if the applicant has 12 months continuous employment in the same line of work. This can be from different companies and can be against previous or future guaranteed work.
Documents we require;
(To verify income)
- 2 months payslips/invoices
(To verify 12 months continuous employment/income)
- Latest years SA302 & TYO OR
- Current contract OR
- Latest annual invoice schedule
Where future employment is being evidenced a contract showing a minimum of 3 months remaining is required.
Calculating Income
- An average of the last 2 months CIS payments should be declared.
- The income should be inline with the contract, latest Sa302 or annual invoice schedule.
- Where this is a large discrepancy, a rationale should be provided.