No broker fees
Call us on 01225 962679
Get a mortgage based on your hourly or daily rate with zero hassle, even if you've only just started your contract
Get a Free QuoteNo broker fees
All contract types accepted
Straight forward processes
If you’re a contractor who’s looking for a mortgage, the chances are you’ve conducted some research and realised that getting a mortgage as a contractor isn’t as straightforward as securing a ‘typical mortgage.’
You might be contracting through a limited company. Perhaps you want the lender to base your mortgage on your hourly, daily, weekly rate. Or maybe you’ve been in the same profession for years, only recently transitioning to your first contracting role.
Any of these things can make it really challenging to get a contractor mortgage.
But don’t worry – It’s not as daunting as it may seem.
Being a contractor doesn’t automatically disqualify you from the mortgage market. It simply means that your income structure might differ from that of someone who is conventionally employed or self-employed.
This is where our expertise comes in – we specialise in contractor mortgages, helping you secure the ideal mortgage.
To kick off the journey, all we need to do is have a conversation. One of our contractor mortgage specialists will lead you through a questionnaire to gain a better understanding of you and your specific circumstances. Based on this information, your advisor will then offer guidance on the most suitable path forward and start researching the market on your behalf.
Fill in your details below and one of our specialist contractor mortgage advisers will contact you to discuss the options available to you and help you choose the best deal.
We specialise in contractor mortgages, understanding the unique challenges you face. Our team of experts navigates the intricacies of different contracts, making the mortgage process smooth and hassle-free.
Whether you're in IT, working on day rate or hourly rate contracts, under an umbrella company, or self-employed with a limited company – we've got you covered. No more worries about complex contracts affecting your mortgage approval.
Struggling with traditional lenders? Our deep understanding of contractor income allows us to get your mortgage approved with ease.
One size doesn't fit all, and neither do our mortgage solutions. We customise each mortgage to your specific situation, ensuring you get the best rates and terms, aligned with your contractor income patterns.
Time is of the essence, and we know it. Our streamlined approval process saves you time and will get you into your dream home faster.
There are multiple ways a contract can be assessed when applying for a mortgage.
Your contractor mortgage expert will be able to assess your particular set of circumstances and decide the route that is most suitable for your needs and requirements.
Here are just a few of the options that we can use to help you get the home you want or reduce the costs of your current mortgage:
Lenders typically assess these contractors based on their contract day/hourly rate. The duration of contracting experience and consistency in the same line of work often play a role in determining eligibility.
For those running their businesses through a limited company, lenders may consider taxable income, including salary and dividends drawn. Retained profit might also be considered in some cases.
Umbrella contractors might be mistaken for employees due to their payslip structure. Specialist mortgage consultants can help navigate the complexities of assessing income, including different types of pay (basic, bonus, commission) and deductions, this makes it more likely you will be able to get the mortgage you need.
These contractors are often required to have a certain amount of time remaining on their fixed-term contracts when applying for a mortgage. The treatment of fixed-term contractors varies among lenders, and choosing the right lender is crucial, to save you time, money and disappointment.
Assessment for agency workers can vary significantly between lenders. Some may analyse the past 3-12 months' payslips to establish an average income for mortgage purposes. Consistency in employment history is important for portraying stability.
In all cases, the guideance of one of our specialist contractor mortgage consultants will prove invaluable. We have the expertise to understand the nuances of different contracting arrangements and can recommend the most suitable approach to ensure your mortgage application is successful. Since lenders have varying criteria and ways of evaluating contractors, our advice can help you navigate the complexutues and find the best lender for your specific situation to ensure you get the mortgage you need, at the price you deserve.
Mortgage Gold, 1 Queen Square, Bath, BA1 2HA
Your home may be repossessed if you do not keep up with the repayments on your mortgage.
No fee is payable for our service in relation to mortgage contracts We will be paid a commission by the lender ; the amount of the commission due to be paid is available upon request and will be disclosed via the mortgage illustration. The amount of commission paid will vary between lenders. The information contained in this website is subject to UK regulatory regime and is
therefore, intended for consumers based in the UK.
Mortgage Gold Ltd is an appointed representative of the Right mortgage Ltd, which is authorised and regulated by the financial conduct authority. Registered office: 70 St. Johns close, Knowle, Solihull, England B93 ONH Registered in England and Wales no. 098636677
