Our Expertise
Contractor Mortgages
Contract work is a normal way to earn a living. The challenge is that not every lender assesses a day rate in the same way.
Overview
What is contractor mortgages?
A contractor mortgage is a mortgage where income is derived from fixed-term contracts rather than permanent employment. This is common in IT, engineering, construction, healthcare, media and professional consultancy.
Some lenders will consider a day rate annualised over a working year. Others require accounts from a limited company, or treat umbrella company income as employed earnings. Because approaches differ so widely, the right lender choice can materially change the outcome.
Who might this be suitable for?
- IT and technology contractors on day rates
- Construction and engineering contractors
- Consultants and interim professionals
- Contractors operating through a limited company
- Contractors paid through an umbrella arrangement
How Help to Lend can help
- 01We review your contract history, gaps between contracts and renewal record.
- 02We present income in the format that suits the chosen lender's assessment method.
- 03We work with limited company and umbrella arrangements alike.
- 04We prepare the case before submission so underwriting questions are anticipated.
Assessment
What may lenders and providers consider?
Contract length and renewals
A record of renewals and continuous work often supports an application.
Time in the industry
Experience in the sector can matter as much as time in the current contract.
Trading structure
Limited company, umbrella and sole trader arrangements are assessed differently.
Gaps between contracts
Short gaps are common and may be accepted, though lender tolerance varies.
Criteria vary between providers and can change at any time. Nothing here confirms that a particular lender or insurer will accept an application.
The Process
How we work through it together.
- 01
Understand
We start with a conversation about your circumstances, plans and objectives.
- 02
Assess
We review your position, affordability and mortgage requirements in detail.
- 03
Recommend
We identify suitable mortgage and protection options and explain the reasoning.
- 04
Apply
We prepare and manage the application, liaising with the lender on your behalf.
- 05
Progress
We keep the case moving and keep you informed at every stage.
- 06
Complete
We support you through to completion and remain available afterwards.
FAQs
Frequently asked questions
Related
Related expertise
Speak to an adviser about your circumstances.
We'll explain the options clearly and tell you what to prepare, with no obligation.
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