MORTGAGES
Contractor mortgages
- You'll experience an unrivalled customer service
- cContractor Mortgages, We offer a comprehensive range of products from across the market but not deals that you can only obtain by going direct to a lender.
- You can contact us 24/7, we're always available to help
Your home may be repossessed if you do not keep up repayments on your mortgage.
How to get a Contractor Mortgages?
Although there is no particular mortgage product intended for contractors, many lenders have now adapted to give contractors more access to mortgages, due to a continued rise in contract and freelance work with Contractor Mortgages
Some specialist lenders offer dedicated mortgage deals to those working as a contractor in professions such as doctors, dentists, and teachers.
How much can a Contractor borrow for a mortgage?
The fact that you are a contractor alone, should not affect the amount of the mortgage loan you’re offered. The main factor in calculating your loan value is affordability. This will be gauged by subtracting your expenditure from your typical annual income.
As a guide, most lenders are willing to offer a loan of around four and a half times your annual income however this varies greatly from lender to lender and your personal circumstances. We can help you to calculate what lenders will be willing to lend you based on your contractor income arrangements.
How is a Contractor’s income assessed for a mortgage?
As a contractor, the likelihood is that your earning will be sporadic. Lenders need a stable figure to calculate your loan and will therefore usually use an average of your earnings over a few years. Many lenders will also want information on your working history, alongside your SA302 form in order to establish a clearer picture of your long term earning potential. The length of time in your current contract, how often it has been renewed and how long remains on the contract can all be factors that can impact how much a lender would be prepared to lend to you.
If your income varies dramatically from year to year, lenders will sometimes just use the most recent year’s earnings or the lowest of the two for their calculation. Unfortunately, this means that you might be able to borrow less than someone with a more stable income.
It’s possible to find competitive mortgage rates for contractors with some lenders. The best rates will be obtained from those lenders who are more sympathetic to the needs of contractors. These are more likely to be independent specialist lenders than those on the high street.
Getting a mortgage when you are paid a day rate?
Contractor friendly lenders are often willing to use your standard day rate, multiplied by your annual working days in order to establish an average annual income. You will ordinarily need to demonstrate that you have at least a twelve-month contract in place, in order to benefit from this method.
Getting a mortgage as a new Contractor
It can be more difficult for those new to contracting to secure a mortgage, as mortgage lenders will struggle to define your long term earning potential. Most contract workers will need at least two years of accounts available before they are considered for a mortgage.
There are some professions in particular where a lack of accounts is overlooked by lenders. A qualified doctor, for example, can sometimes obtain a mortgage before their first contract has begun.
Some contractor schemes, such as the CIS (Construction Industry Scheme) may have more standard options as may be treated as employed by some lenders.
How do you strengthen your mortgage application as a Contractor?
Lenders consider contractors to be particularly high risk, therefore anything that you can do to improve the appearance of your finances before you apply for a mortgage, will increase your mortgage options.
Some things you could do to enrich the trust of a lender are:
- Offer a larger deposit where possible
- Obtain documented contractual agreements with your clients where possible
- Ensure that you have strong financial management, preparing full income and expenditure records ahead of your application
- Take steps to improve your credit score where necessary
- Ensure there are no significant gaps in employment (including holidays) between contracts, in at least the year prior to your application
- Apply for a joint mortgage with a partner in more traditional employment (PAYE)
- Consider using a guarantor on your mortgage application
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
Some Buy-To-Let Mortgages are not regulated by the Financial Conduct Authority.
How mortgage affordability is assessed for a Limited Company?
Those contractors operating as limited companies will experience a slightly different application process. Unlike sole traders, only your salary and dividends will be used to establish your affordability and therefore calculate your loan amount, rather than the total business income. There are certain lenders able to use share of net profit instead of dividend if you have been leaving money within the business as retained profit.
How can Mortgage Matchmakers help if I’m a Contractor?
More traditional high street lenders, such as banks are rarely able to offer the most competitive mortgages to contractors. They also tend to have stricter criteria to satisfy. As Mortgage Brokers we can provide you access to specialist lenders who are better placed to help contactors and offer them competitive interest rates.
We can assess your individual circumstances in order to determine whether your application will be accepted and can advise you on how to improve your chances, if necessary. This can save time, stress, and lasting issues caused by rejected mortgage applications.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
Some Buy-To-Let Mortgages are not regulated by the Financial Conduct Authority.
Happy Clients
Jazz Bhangu2026-07-31I found Mohit when doing a local search for mortgage advisors that were local to me. Mortgage Matchmakers popped up with nothing but 5 star reviews. When I reached out to Mohit for an initial discussion, I felt very confident that the 5 star reviews were a true reflection of his service. Mohit was always available to talk through the process, what my options were and unfortunately when my sale and purchase fell through he was very supportive and provided some great advice during what was a challenging period. I always felt like Mohit gave me numerous options and approaches I could take with my new mortgage, I never felt any pressure from him in any shape just excellent advice and guidance throughout what was a stressful period. Mohit has now become my go to guy and will be reaching out to him when my current fixed is due. I would recommend Mohit to family and friends without any doubts, 5 star service from a 5 star guy!!
Nitin Katyal2026-06-03Best in business. From the moment I contacted Bhavna Grover, I was well informed about the options available. I will highly recommend Mortgage Matchmakers.
Loredana Gheorghe2026-05-18Excellent service from start to finish.As a first time buyer, Mohit was professional, responsive, and made the whole mortgage process smooth and stress-free. He took the time to explain everything clearly and worked hard to secure the best deal for me. Highly recommended.⭐️⭐️⭐️⭐️⭐️
Mina T2026-05-15Mohit was really helpful and got me a mortgage offer within a few days! Thank you so much :)
Basavaraj SH2026-04-29I was referred to Bhavna (Mortgage advisor) by a friend, and I’m so glad I was. She has been amazing in helping me with my residential remortgage and finding the best deal suited to my circumstances. Bhavna is incredibly hardworking, responsive, and communicates everything clearly and efficiently, making the whole process stress-free. She truly goes the extra mile for her clients and supports you at every step right through to completion. She also keeps an eye on the market to make sure you secure the best possible deal before everything is finalised. I would highly recommend Bhavna to anyone looking for a reliable and dedicated mortgage advisor.
Jyoti Bains2026-04-02I’ve known Mohit for past so many years, and in that time I’ve seen firsthand just how dedicated, honest, and knowledgeable he is, both professionally and personally. As a mortgage advisor, Mohit goes above and beyond. He takes the time to really understand your situation, explains everything clearly (no jargon or pressure), and make what can feel like a stressful process so much smoother and more manageable. What really stands out is his integrity, you genuinely feel he has your best interests at heart. It’s rare to find someone who combines expertise with such a personal touch. Whether you’re a first-time buyer or remortgaging, you’re in very safe hands. Highly recommend to anyone looking for trustworthy, reliable mortgage advice!
Dripesh Chauhan2026-03-26I would like to thank you Mortgage Matchmakers in helping out the mortgage for our second home. Specially I would like to thank you Bhavna for her dedication and professionalism during the process. I will highly recommend Bhavna of Mortgage Matchmakers Limited for anyone looking for a mortgage. Dripesh & Reena
Jaya Bhardwaj2026-03-17Our experience with Bhavna from mortgage matchmakers has been absolutely fantastic. We have been using her for a while now to get mortgages on several of our properties, including buy to let properties purchased through our limited company and she has always managed to find fantastic deals for us. What particularly stands out is her communication, prompt responses to any queries and her efficiency. Even after the mortgage is approved, she constantly keeps looking to see if any better deals arrive on the market and lets you know if this is the case. She manages everything for you and we have never had any issues with any of the mortgage deals she has sorted for us. Doing business with her is a great pleasure and I would highly recommend Bhavna at Mortgage matchmakers for all of your mortgage needs.
Avanish Tantry2026-03-17I have used Mortgage Matchmakers for several mortgages now and am very happy with their service. Bhavna Grover, who has been our mortgage advisor, is excellent and I can’t recommend her enough. She is professional, very hard working, extremely prompt with her responses and gets things done in super quick time. She has always managed to find really competitive deals for me, including limited company but to let mortgages, and keeps looking out for better deals right till the end. I couldn’t ask for anything more and she completely takes the stress and hassle out of obtaining mortgages. If you are looking for a mortgage advisor and company, look no further than Bhavna and Mortgage Matchmakers.
Richard Smith2026-03-11Mohit was very professional and clearly has a good knowledge of the mortgage market. He was able to secure us a rate ahead of the increase that came in 8 hours later! Would highly recommend for all mortgage related enquiries.