I'm 34, on £26k and about to move from a permanent job to a 12-month contract – how will this affect my mortgage, pension and ability to get maternity pay?

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Let’s talk about money…

Before we get into your questions, I’m going to preface everything with ‘check your contract’ – this is vital to understanding where you stand with your new employer #KnowYourRights. With that said, let’s look at the mortgage question first. In the eyes of a lender, you’re what they’d call a type of ‘contractor’, which is similarly to a form of self-employment.

This is unlawful if the reason for the non-renewal is related to pregnancy, childbirth or maternity leave but there is no obligation to keep you on so long as they have a ‘fair reason’. The reality is, unlawful doesn’t mean it won’t happen *eyeroll*. Being on a fixed term contract does leave you with less certainty so it’s even more important that you know your rights and have a clear plan . I’d also suggest getting some advice from ACAS.You should make the most of your new employer’s pension.

 

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