Employment Status of the Client
This page details the employment status of the client that Nationwide is prepared to lend to.
Fixed Term Contracts
This is where a job is only for a set period, although the contract may be renewed or extended.
You should always ask if an applicant is on a fixed term contract, as the question is not currently asked on our application forms.
The mortgage approver will assess the likelihood of continued further employment, taking into consideration the following so it would be useful if you could submit the following information with the application:
- length of time with current employer;
- if the contract has been renewed before;
- remaining term of the current contract;
- if the current contract is likely to be renewed and, if so, for how long;
- the prospects of obtaining alternative employment in the same type of work at a similar salary;
- whether the contract is connected to a specific project
