Yes, it can be possible. Your bank’s “two years left to run” rule is a common one, but it’s not universal. Some lenders will consider fixed-term or temporary contracts with 12 months remaining, and others can be flexible where you can show a solid track record or an extension/renewal pattern.
Why your bank is saying no
Lenders are trying to get comfortable that your income will still be there over the medium term.
If they can’t see enough contract left, they may assume you’re higher risk, even if you’re working for a large employer and the role feels stable.
What other lenders may do differently
Criteria varies, but there are lenders who will look at:
- Time left on contract. Some lenders accept applications with around 12 months remaining, and some can go shorter where there’s evidence of renewal.
- Time in role / track record. For example, some policies reference a minimum period in fixed-term employment, or longer remaining term if you’re newer to contracting.
- How “repeatable” your employment is. A consistent employment history in the same line of work can help, even when the current contract is fixed-term.
So an 18-month contract isn’t automatically a dead end. It’s more about how the case is presented, and which lenders you approach first.
How overtime will be treated
Overtime can help, but lenders usually want it to be provable and sustainable.
If overtime is regular and evidenced in payslips/bank statements, some lenders will include a portion of it. If it’s new or highly variable, they may ignore it and assess you on basic salary only.
That matters here, because £21.5k basic salary can cap borrowing with many lenders, even with a decent deposit.
What will strengthen your application
This is the evidence that tends to make the difference on fixed-term cases:
- Your employment contract showing the full term and conditions
- Recent payslips and bank statements
- A clean explanation of your employment history (especially if you’ve had continuous work in the same sector)
- Any written indication of renewal or extension (even if informal, it can help some underwriters)
Deposit, borrowing, and expectations
A £15k–£20k deposit is helpful, but affordability will still be the main constraint at a £21.5k salary.
If the property price is high relative to income, the issue may not be the contract length alone. It may be that your bank’s figure reflects a broader affordability cap once they stress-test the payments.
Your options from here
You’ve broadly got three sensible routes:
1) Broker-led lender selection.
This is where a broker genuinely adds value. The criteria differences are meaningful, and you want to avoid multiple failed applications.
2) Wait until you have more track record.
If you build a longer run of payslips and overtime, you can sometimes unlock better affordability treatment.
3) Increase deposit or reduce target price.
Not always possible, but it’s the most direct way to improve lender comfort when income is modest.
If you’d like to talk more about your situation, then please call 023 8235 2300 or submit an enquiry and we’ll put you in touch with one of our consultants.
