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Self-Employed Mortgage Guide
Accounts, SA302s, retained profits and contractor day rates and how to present them to lenders.
Services /
Contractor Mortgages
Paid by the day,Assessed fairly.
A strong day rate does not always look strong to a lender. Short contracts, gaps between assignments, umbrella companies and limited company structures can all lead to income being under-counted. We approach lenders who can assess contractors on their contract rate, so your borrowing reflects what you actually earn.
How we help
We act for IT, engineering and finance contractors, consultants, interim managers, locums and other professionals working on day-rate, hourly or fixed-term contracts, whether inside or outside IR35.
01Assessed on your contract rate
Some lenders work out your income from your day or hourly rate rather than your accounts or payslips, which often gives a fairer picture of what you earn.
02Inside or outside IR35
Umbrella company, limited company or PAYE through an agency: lenders treat each differently. We match your structure to lenders whose criteria fit it.
03New to contracting
If you have moved from permanent work into contracting in the same field, some lenders will consider you with only a short contracting history.
04Gaps and renewals
Breaks between contracts are normal. We present your renewal history and pipeline of work so lenders see the whole career, not one assignment.
Typical scenarios
Illustrative examples of the situations we are asked to help with. They are not accounts of individual clients.
Scenario 01A software developer new to contracting
A developer left a permanent role four months ago for a twelve-month contract at a higher day rate and wants to buy a home.
We approach lenders who accept a short contracting history where the work continues an established career and assess income on the day rate.Scenario 02An engineer paid through an umbrella company
An engineer works inside IR35 through an umbrella company, so payslips vary with the hours billed each month.
We use lenders who can look at the contract rate or average income over time, rather than a single low month.Scenario 03A consultant remortgaging between contracts
A management consultant's fixed rate is ending just as one contract finishes and the next is about to start.
We secure the new deal using the signed renewal and contract history, so the gap does not hold the remortgage up.Frequently
asked questions
How do lenders work out a contractor's income?
It varies. Some use your day or hourly rate multiplied across a working year, some use your accounts or tax calculations and some use your payslips. We find the method that represents your income most fairly.
Do I need two years of accounts?
Not always. Some lenders will lend on a current contract with a shorter track record, particularly if you worked in the same field before contracting.
Does my IR35 status matter?
It can change how a lender views your income and what evidence they ask for. We will explain what is needed for your situation before anything is submitted.
Can I get a mortgage between contracts?
It is harder, but sometimes possible with a signed future contract or a strong renewal history. Timing the application well usually makes the biggest difference.
Free guide
Day rates, accounts and how to present contract income to lenders.
Arrange a consultation
Tell us about your contract and what you would like to buy or refinance. The first conversation is without obligation.
Your home may be repossessed if you do not keep up repayments on your mortgage. Lending is subject to status, lender criteria and individual circumstances.