Agency Employee Home Loan

Any general questions you might have in regards to loans and finance.
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Ruby
Posts: 1
Joined: Wed Dec 23, 2009 11:24 am

Agency Employee Home Loan

Post by Ruby »

Hi I am a contractor who has been contracting with the same company for about 13 months now. My contract is slightly different to those you mention on your website in that I am employed by x company but I am paid by my recruitment agent and therefore do not receive annual leave or sick pay. I am a PAYG contractor and would be more in the rolling contractor category rather than fixed term etc... This contract is in the line of employment that I am usually employed in. If I were to purchase a property of around $350,000 where I would have a 10% deposit would I eligible for a home loan?

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: question

Post by Otto Dargan »

Hi Ruby,

Yes if you are employed by an agency and your agency has a "host employer" that you then work for then we can accept this type of employment. Home loans for agency employees are assessed in the same way as contractors. We have a couple of lenders that could help for your situation, all of which have mortgage products that are competitively priced with discounts below the bank standard variable rate.

You can borrow 90% + LMI if you have at least 5% in genuine savings. If you don't have genuine savings then we can get you a guarantor home loan for up to 100% or we can get you a non-genuine savings loan for 85% + LMI (cannot qualify for more with no savings if employed via an agency).

Please give us a call on 1300 889 743 so we can discuss this before the Christmas break.

Thanks!
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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