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Contractor Mortgages – Frequently Asked Questions (FAQs)
Contractors should have no problem securing a competitively priced mortgage from lenders who understand how contracting works.
�lender and financial adviser that understands how contracting works. The reasons why contractors struggle to ob� �ers right up to the day the householders exchange contracts. What can happen is that the lender conducts some� �e and a knowledge of contractors and they use the contract to define a contractor’s income. 3. Do I need thr�
Category: Articles: Mortgages | Thu, 14 May 2015

Getting a contractor mortgage – process and timings
Contractors should secure a robust mortgage finance agreement from their lender before they even start to look at properties.
�sale of an existing property or savings. Historic contracts may also be requested. Ideally, contractors shoul� �: We would ask for a copy of the contractor’s CV, contract, and other client specific evidence, build the co�
Category: Articles: Mortgages | Wed, 27 May 2015

Contractor mortgages – assessment and qualification criteria
Contractors must meet a range of mortgage lender assessment and qualification criteria if they are to secure a mortgage.
�hers are making the transition from employment to contracting and their increased income has prompted the desir� �an up-to-date CV showing many years of successful contracts, and copies of their past contracts that can be a� �losure. So, if a contractor is not currently in a contract and cannot prove their income from conventional m�
Category: Articles: Mortgages | Wed, 17 Jun 2015

Had trouble as a contractor getting a mortgage?
Contractors having trouble getting a mortgage may be able to secure funding by applying via a contractor specialist.
�adviser that has access to lenders who understand contracting. Most contractors should be able to get a mortgag�
Category: Articles: Mortgages | Thu, 25 Jun 2015

Contractor mortgages – a guide to the preferred lenders
Contractors can secure highly competitive contracting-specific mortgages from lenders but only through specialist brokers.
�‘day one’ contractors who have just started their contracting careers, and will also take on contractors from o� �mi-business’ mortgage solutions Metro Bank offers contract-based underwriting, which means it bases a contra�
Category: Articles: Mortgages | Wed, 29 Jul 2015

Buying a newly built home as a contractor
Contractors will find that mortgage applications for newly built homes are different as lenders requirements are more demanding.
�inancial adviser is so important. If you exchange contracts on a new property bought off-plan that is current� �und to complete the deal and part with 10% of the contract value. If you can’t complete within 12 to 18 mont�
Category: Articles: Mortgages | Thu, 30 Jul 2015

Renting compared to having a mortgage
Contractors will generally find that buying a house with a mortgage makes more financial sense than renting a property.
�nd let it. Most contractors have more than enough contracting income so that a specialist contractor broker can�
Category: Articles: Mortgages | Mon, 03 Aug 2015

10 top tips for securing contractor mortgages and loans
Contractors can increase their chances of securing mortgages by using these top tips from a contractor mortgage expert.
�m being awarded the mortgage. 8 - Avoid breaks in contracting One of the attractions of the contracting lifesty� �on to do so, as they can have runs of high-paying contracts that allow them to pay healthy dividends. When th� �enders. 2 - Find a lender happy to use annualised contract rates to set lending limits The good news for con�
Category: Articles: Mortgages | Wed, 27 Apr 2016

Why buy to let (BTL)? Property is great for increasing your income
Get guaranteed income after you retire from contracting. Find out how investing your money in buy-to-let property could be the best decision you make!
�ment could guarantee you a source of revenue when contracts are few and far between, or help you build up a h�
Category: Articles: Mortgages | Fri, 21 Oct 2016

Can contractors claim expenses without receipts?
Contractors often ask how much expenses can be claimed and whether these expenses need receipts?
�e wholly and exclusively for the purposes of your contract. Expenses can potentially be claimed if they are�
Category: Articles: Expenses | Tue, 12 Dec 2017