On a fixed-term contract? Lenders can treat you like an employee.
A fixed-term contract (FTC) sits between permanent employment and day-rate contracting — you're usually PAYE, but for a set period. Many lenders will treat a fixed-term contract much like permanent employment if you can show continuity and time left to run, so you borrow on your salary in the normal way. As a whole-of-market, FCA-authorised brokerage, we match FTC employees to lenders comfortable with time-limited contracts.
- Assessed onContract / payslipsGross contract value or umbrella payslips
- Income multiple~4.5×Applied to assessed income
- Deposit from5%Better rates at 15%+
- AdviceWhole-of-marketDirectly FCA authorised
How lenders view a fixed-term contract
Most lenders look for a track record in the same field, a reasonable period left on the current contract (often a few months), and a history of renewals or continuous employment. Meet those and they assess your basic salary just as they would a permanent employee's, rather than averaging or discounting it.
What strengthens your application
A history of back-to-back fixed-term roles, employment in a stable sector (public sector, education, research), and time remaining on the contract all help. A gap-free CV matters more than the "fixed-term" label itself.
FTC, day-rate or umbrella?
If you're actually paid a day rate or through an umbrella, a different assessment applies — see IT contractors and umbrella employees. If you've only recently started, one year's accounts may be relevant.
What you'll usually need
- Current fixed-term contract (showing dates and salary)
- Employment history / CV showing continuity
- Recent payslips and P60 where available
- Photo ID, proof of address and deposit
Estimate your borrowing
Use the contractor mortgage calculator or speak to an adviser.
Lenders comfortable with fixed-term contracts — a selection
Lender guides: Halifax · Barclays · HSBC · NatWest · Nationwide · Accord · Clydesdale · Yorkshire BS · Kensington See how we place cases →
Fixed-Term Contract Mortgages, answered
Can I get a mortgage on a fixed-term contract?+
Yes. Many lenders treat a fixed-term contract like permanent employment if you can show continuity and some time left to run, lending on your salary in the usual way.
How much time do I need left on my contract?+
It varies, but often a few months is enough, especially with a history of renewals or continuous employment in the same field.
Do gaps between contracts matter?+
Short gaps are usually fine if your overall history is continuous. A clear, gap-free record widens your lender choice.
Is a fixed-term contract assessed like a day rate?+
Not usually. FTC employees are typically PAYE and assessed on salary, unlike day-rate contractors who are assessed on an annualised rate.
What if I've just started my first fixed-term role?+
Some lenders still lend, particularly if you moved from permanent employment in the same field. We match you to those with the most flexible criteria.