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Have you got a home loan with casual employment?


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#1 Literary Lemur

Posted 15 February 2020 - 10:09 PM

Have you got a home loan with casual employment?

How long were you casual?

Was it hard to get a loan and were you offered good interest rates?

Edited by Literary Lemur, 15 February 2020 - 10:09 PM.


#2 Kallie88

Posted 15 February 2020 - 10:31 PM

Not on my own, dh and i got a loan end of last year, he's full time and I'm casual, I'd been casual 3 months, 6 when everything went through for the house we wanted. Interest rates were fine, our broker sorted everything so it was very straightforward for us. He said very few banks will consider you prior to 12 months casual, I imagine if it's just you it would be much more difficult

#3 born.a.girl

Posted 16 February 2020 - 06:37 AM

View PostKallie88, on 15 February 2020 - 10:31 PM, said:

Not on my own, dh and i got a loan end of last year, he's full time and I'm casual, I'd been casual 3 months, 6 when everything went through for the house we wanted. Interest rates were fine, our broker sorted everything so it was very straightforward for us. He said very few banks will consider you prior to 12 months casual, I imagine if it's just you it would be much more difficult

That would suggest that if you've been consistently casual for over 12 months they will?

I'm concerned about my daughter and her partner ever being able to get a loan.  In their fields just about everything's casual.

Fortunately they will have help from us, but they will still need to get a loan. Not sure if it would make any difference with us being guarantors.

Sorry op, for the hijack!

#4 nom_de_plume

Posted 16 February 2020 - 08:42 AM

View Postborn.a.girl, on 16 February 2020 - 06:37 AM, said:



That would suggest that if you've been consistently casual for over 12 months they will?

I'm concerned about my daughter and her partner ever being able to get a loan.  In their fields just about everything's casual.

Fortunately they will have help from us, but they will still need to get a loan. Not sure if it would make any difference with us being guarantors.

Sorry op, for the hijack!

I have been on casual or contract since 2013, however the bank didn’t have an issue as there are no gaps in my employment and I work in public health. They only wanted to know whether I was in a probation period or not. Apparently they look on certain professions and industries more favorably.

DP is permanent though and we had a sizeable 30% deposit which also helped us. I think it would be much harder if both applicants are casual and don’t have at least a 20% deposit.

ETA - we were able to get the advertised rate with our lender. They told us if we had less of a deposit it would have been slightly higher, and LMI would apply if the deposit was less than 20%.

Edited by nom_de_plume, 16 February 2020 - 08:45 AM.


#5 Murderino

Posted 16 February 2020 - 09:00 AM

A colleagues single niece sold her home and bought a block of land with her proceeds. Some time in that process she moved to a casual job where she does more hours than her previous job and makes more money - she can show that history.

She can’t build on her block as she can’t get a loan.

#6 bearosauraus

Posted 16 February 2020 - 09:21 AM

Since the royal commission things are much tighter so would imagine it wouldn't be easy. This is based on my experience refinancing a few months ago whilst being long term employed as part time and now full time with the same company.

#7 Literary Lemur

Posted 16 February 2020 - 09:00 PM

OK so no-one so far has achieved a loan with just casual employment (partners were permanent) and one with application strengthened with higher deposit?

Has anyone got a home loan with purely casual employment?

#8 Marinated.

Posted 23 February 2020 - 12:34 PM

View PostLiterary Lemur, on 16 February 2020 - 09:00 PM, said:

OK so no-one so far has achieved a loan with just casual employment (partners were permanent) and one with application strengthened with higher deposit?

Has anyone got a home loan with purely casual employment?

Hi OP,

I got a loan while single and on contract.

At the time, I'd just returned from a stint overseas and the contract itself was new (I was about 5 months into a 12 month gig).

I did, however, have a fair bit of equity in an existing property - and my finances were otherwise in order i.e. no 'bad' debt, good contract $.

With the above being the case, the process was straightforward. Using a mortgage broker helped enormously.

Edited by Marinated., 23 February 2020 - 12:36 PM.


#9 Literary Lemur

Posted 23 February 2020 - 12:40 PM

Thanks Marinated.




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