Contractor Mortgages
Helping contractors get a mortgage is a niche area that we specialise in.
Many contractors struggle to raise the required borrowing from traditional banks, however we have lenders that welcome contractors and our experienced advisers would be happy to talk you through your mortgage options, fully explain the mortgage process and the costs involved.
Contractor Mortgages
Getting a mortgage as a contractor can be a challenge as lenders have different ways of calculating how much you could borrow and therefore the mortgage available could be vastly different from lender to lender. Using a contractor mortgage broker that specialises in helping contractors can save a lot of time, money and stress.
Many clients approach us as they have been declined by their bank, however we have a large panel of lenders, some high street based, that can provide mortgages to contractors.
What is a Contractor Mortgage?
Let’s start with what a contractor is first – so this is someone who offers their skills and expertise for a contracted period of time – like 6 or 12 months for example. At the end of the contract, the contract will terminate and the services provided will stop. Generally the contractor will then move onto another contract within another company or the existing contract may be extended.
How do contractors get paid?
Employed Fixed Term Contract – This is where the contractor is employed on typically a day rate for X period of time. In this situation the contractor will be provided with payslips in which National Insurance Contributions and Income Tax would have been deducted at source.
Contractor mortgage as a Sole Trader – In this situation the contractor would generally issue an invoice on typically a monthly basis to the firm which has contracted in their services and this invoice is paid without any deductions. The Sole Trader contractor would then submit yearly accounts and pay any taxes that are due.
Contractor Mortgage through a Limited Company – Here the contractors company would typically issue an invoice to the firm which it has been contracted to work to be paid on a weekly or monthly basis. This invoice is paid to the Limited Company and then the limited company would pay the contractor as a salary &/or dividends. The Limited Company would have to provide yearly accounts and pay relevant taxes due and the contractor would also have to submit a yearly tax return for the income they have personally received.
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Contractor Mortgages

Product Name: Mortgages
Product Description: Contractor Mortgages
Joe
Gary has been brilliant throughout the whole process. Very knowledgeable, helpful and efficient. The service provided as a whole, has been excellent, 10/10.