- Day Rates & Hourly Rates
- From 5% Deposit
- New Contractors
- Employed & Self Employed
- Zero Hours
- Multiple Contracts
- Common Sense Underwriting
- No Credit Scoring Application for Some Lenders
Mortgages for Contractors
The contractor market in the UK has exploded in recent years and the payment vehicles and structures vary significantly. Typically, contractors who have recently started contracting or who contract through an umbrella company, tell us of the challenges they face when proving their income. Some may not yet have full accounts, others may receive ‘employed’ income through PAYE and some may have the added complication of using a CIS scheme.
Whatever your circumstances, we are able to help.
We will arrange your mortgage on the basis of your contractor day rate and can generally secure you highly competitive finance on your contract rate alone. In contrast, many of the High Street banks and building societies will require annual accounts. Our expertise and specialism can get your case agreed directly with the underwriter and one who understands how to assess your relevant earnings for lending purposes. This avoids disappointment and the unnecessary waste of both costs and energy, with a failed mortgage application.