I've come across a few people with a similar question.
Jeremy Andrews, who is a mortgage adviser at Key Mortgages, says fixed-term contracts can be acceptable for a lender, but will be dealt with case by case.
"Banks always look at the 'big picture' when considering whether any aspect less favourable, becomes a deal breaker or not," he said.
It might help if you have been in the same industry a long time, or you've moved from one fixed-term contract to another in the past without a problem.
"If they have a partner or other income stream making up some of the mortgage payments that will also help to mitigate the risk of being able to keep up payments on the mortgage should the fixed-term contract not be renewed for some reason.
"Having good equity, such as more than 20 percent in an owner occupied [property], or a buffer of spare savings, also help mitigate any higher-risk aspects to an application."
He said lenders might also consider the type of industry you are in. For sectors that are short on staff, such as healthcare or education, a fixed-term contract might often not be such an issue, he said.
He said this was the sort of application for which advisers would often try to provide evidence upfront to help a client get approved.
I asked Shannon Barlow, who is managing director of Frog Recruitment, about this. She said in the current market where redundancies are common, having been made redundant is unlikely to affect your chances of getting hired in a new role.
"In general, though, recruiters will tend to probe into the reasons for redundancies - how many others were made redundant? How many from their team? Trying to work out if it was a legitimate redundancy or used as a way to exit the employee due to performance or conduct issues without having to go through performance management."
You may want to be prepared with some information about the process to give any future employer some reassurance that it was because of industry factors, or things outside your control.
Key Mortgages comments with Tony Alexander and TMM Online the prospect of whether rising interest rates and global tensions are prompting a more cautious approach from buyers. Is mortgage demand softening as households take time to reassess affordability and market conditions?
NZ Banks are offering cash incentives to retain existing home loan clients. Jeremy of Key Mortgages summarizes with NZ Herald, whether to switch or stay depends on factors like break fees, equity, and overall costs. We can help and negotiate with your current bank to find which is the smarter move.
Key Mortgages recently joined Ryan Bridge on Newstalk ZB, to discuss the recent jump in mortgage rates and what it means for Kiwi borrowers.
Key Mortgages shares details with Good Returns how expanded low-deposit lending options may help eligible first home buyers enter the market sooner and with better pricing
As featured in Stuff, buying property with friends or family can improve affordability, but clear agreements and proper structure are essential.
Banks and Mortgages advisers discuss with New Zealand Herald, why home loan approvals may take longer as lenders apply more detailed affordability checks and tighter financial assessments.
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