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Type of employment contract
Whereas a permanent contract with a stable fixed salary is the most attractive arrangement for lenders, short term contracts, employment through agencies, commission-based salary structures, and self employment will not necessarily mean you are excluded from borrowing, although it may be harder.
If your salary includes large amounts of commissions or bonuses, some lenders will only count your basic wage, whereas others will consider your OTE (on target earnings), but may not offer you such attractive rates. Self employed people can usually expect to need to provide between 1 and 3 years' accounts history, although the bank where you hold your current account may be more accommodating.
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