Many Australians work in industries where casual employment is the norm. Industries such as hospitality, retail, couriers, usually offer employment on a casual contract. The bank employees are all on full-time basis, so what would they know about being casual!

Luckily, it is possible to get a home loan if you are a casual employee. Most Banks and Lenders prefer people to have worked casually for 12 months, but we have helped people secure finance on employment terms as short as 3 months!

How Can I Get Approved?

If you are casually employed, all standard home loan conditions must be met. In addition to this, the Bank will take your employment in to account. For example, we recently helped a client achieve this.

We had a client that recently changed employers. It was within the same industry, but they moved too far away to drive to work every day. So they found a new job. After moving into their new rental, they decided they want to buy their own home.

The bank we were looking at had a 6 months casual employment policy. We negotiated with the bank, asking for the lender to look at 3 months of casual income, instead of their standard policy of 6 months. The bank sent the file to their Credit Assessment Team, for the Manager to look over.

We got it approved! The client was so happy.

Who Is This Type Of Home Loan For?

✔️ Most casual employees are considered, including:

✔️ Normal casual employees with hours that can change each week

✔️ Permanent casuals

✔️ Casual teachers

✔️ Casual essential workers, including nurses

✔️ Casual Dentists

✔️ People with multiple casual jobs

Is The Employment Stable?

However, you need to ask yourself, is the role stable enough that work will continue? The last thing you would want is to get a half a million-dollar home loan and then lose your job. If you’re comfortable that there’s plenty of work, in the industry you are in, then fantastic! Or, if you have income protection insurance, this can also help safeguard against loss of work.

If you have been thinking about getting a home loan, and have recently changed employers, we may be able to help. Check our calendar below, and let’s see what we can be done!