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Temporarily Employed Staff: Working Hard Just To Be Turned Down For A Mortgage

By: Chris Gardner Home | Finance | Mortgages


For many of us in the UK, working temporarily through recruitment agencies is one of the most convenient ways for us to earn enough money to support ourselves and our families. Not only that, it allows us to work at times to fit with family life and by the very nature of the job, you can end up working at a broad range of exciting and different companies.

In fact, well over a quarter of a million people in the UK are engaged in temporary employment through recruitment agencies, with the figure increasing year-on-year. It probably comes as no surprise when so many of us are working hard to seek the perfect work life balance.

The growing influx of temporary workers is obviously having a huge impact on society, so much so that earlier in 2007 a private member's bill was introduced lobbying the UK parliament to give temporary workers no less favourable rights as their part- or full-time worker counterparts. The UK Parliament hasn't yet reached a conclusion but it's a fair indication that the welfare of temporary workers is finally being taken more seriously as an important part of the country's economy.

If our own governing parliament is beginning to recognise how important the welfare of temporary workers is to the UK's population and economy then why do our High Street banks make it so difficult for this section of our society to get one of life's basic necessities: a house? For most temporary workers, searching for a mortgage from the High Street banks can be a humiliating and frustrating experience. They can work their way down every bank on the High Street only to be turned down for a mortgage by every single one of them.

The main issue that the High Street banks have with temporary workers is that they aren't considered to have stable and consistent jobs, making them a high risk investment. With unemployment at its lowest in decades and lots of temporary workers earning good money it is a very strange attitude the High Street banks are taking.

That's not to say that all temporary workers can kiss goodbye to ever being able to move into their own home. More and more independent mortgage lenders are beginning to take a more understanding view of temporary workers' financial situations and are able to offer rates that are usually competitive with any High Street bank.

So if you're temporarily employed and are working hard to get on to, or stay on, the property ladder, don't give up there are plenty of lenders that will give you a mortgage.



Article Source: http://www.eArticlesOnline.com

About the Author:
Author: Chris Gardner, Director of National & Capital a leading independent mortgage brokers based in Southend-on-Sea. National & Capital specialise in securing mortgages for people turned down by the High Street Banks because they are in temporary employment or have a poor credit rating.

Visit www.nandc-turneddown.co.uk


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