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Home loan for a contractor

Home loan for a contractor

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Old Jul 22nd 2004, 9:29 am
  #1  
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Location: Sopron, Hungary - January 2005, Brisbane
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Default Home loan for a contractor

I read some article here about home loan, but I did not find answer for my question. Maybe I missed...sorry if was before.

If I know well, normally if you are an permanent employee after half a year in employment you can get home loan from most of the banks.

I also heard, if you are a self emlpoyment or sole trader this time is two years.

What about the contractors? (for example if I will be an IT contractor)

After how much time can I apply for home loan?

If I understand correctly the contractor (I never worked before else only permanent employee) somewhere between employee and self employment.

Thanks for any info. ;-)
(sorry for bad English, unfortunately not this is my mother language.)

BYE
TIB
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Old Jul 22nd 2004, 10:28 am
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Default Re: Home loan for a contractor

Originally posted by thalasz
I read some article here about home loan, but I did not find answer for my question. Maybe I missed...sorry if was before.

If I know well, normally if you are an permanent employee after half a year in employment you can get home loan from most of the banks.

I also heard, if you are a self emlpoyment or sole trader this time is two years.

What about the contractors? (for example if I will be an IT contractor)

After how much time can I apply for home loan?

If I understand correctly the contractor (I never worked before else only permanent employee) somewhere between employee and self employment.

Thanks for any info. ;-)
(sorry for bad English, unfortunately not this is my mother language.)

BYE
TIB
It depends on the bank really. As long as you can demonstrate that you can afford the repayments it should not be an issue. The bank does afterall have security in whatever property you buy, so if you do screw up, they'll take your house off you.
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