Contract probation period and mortgages

[Invexis]

Thanks to those that answered - much appreciated. The mortgage broker got me a bit worried there so I'm feeling much better now.

No doubt you you'll hear some more numb-nut newbie questions from me soon, so apologies in advance...

[Paco]

Quite often when contracting for a new client I've found that they prefer the initial contract period to be relatively short, say 3 months, even if they know the project will last longer than that. This enables them to get rid of me (which has never happened, BTW) easily without resorting to imaginative interpretation of the contract clauses. This can be considered as a sort of probationary period and is perhaps what your broker is talking about, but as far as your mortgage lender is concerned its a full blown bona fide contract.

Also, consider giving contractormoney.com a call (advertised on the main page) as they are completely geared towards contractors and understand how we work. I've no association with them, other than I've used them twice and they have been excellent both times.

[expat]

me gustan los huevos rancheros

Depends on your conviction and the size of your cajones.

Cojones.

Espero que ayuda.

[privateeye]

probation period

I suspect it is just the terminology that the broker is using. One broker insisted that the current contract must have been extended (probation period??) - I think this was taken as a reference that I was likley to get more work. For my last re-mortgage they just took into account length of time as a contractor and the average income I received.