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Apr 8, 2024 Last reviewed: Apr 8, 2024 1 min read

Casual Income — What’s the Catch?

Casual employment is common in Australia. The pay is usually pretty good, the hours are flexible and you can start earning really quickly.

Banks though adopt a conservative stance when it comes to using casual income for loan assessment. Typically a bank will require you to have been in the casual role for at least 6 months. Some lenders will allow for these 6 months to be spread over more than one employer.

We are seeing a lot of Kiwis jumping into great casual opportunities, especially in mining, teaching and construction. However, bear in mind that your income will not satisfy lending criteria for a home loan for the first 6 months.

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