Contractor mortgages

Contractor Mortgages

Are you an IT contractor or do you work in a self employed capacity on day rate for a company or organisation?

Contractors are a rare breed, paid on a day rate without the benefits that employees get but usually at a higher rate.

When it comes to getting a mortgage it can be very confusing, not all brokers understand how the contractor gig works and will be asking for two or three years accounts, checking your net profit or dividends and asking about your directors remuneration. Often the accounts don’t reflect the actual income you are receiving and it can be the case that you are not able to borrow what you need.

We understand how contractors work and when you need a lender to allow your day rate over 46 or 48 weeks to be your income, we know where to go. This can sometimes mean that we are able to achieve higher borrowing for you than advisers who ask only for your company accounts.

Come and talk to us even if you have only recently become a contractor, some of our lenders don’t require as much history in the role as you would imagine as long as you have a track record in your industry.