Mortgages for oil and gas contractors
At Freelancer Financials, we appreciate the risks an oil and gas contractor faces every day. The work is technical, ground-breaking, safety critical and often dangerous.
What you earn, you work hard for, and we have the experience to translate your hard work into the home you deserve.
What does an oil and gas contractor do?
The oil and gas industries are a complex and ever-evolving landscape, with a diverse range of players involved in the production, exploration, and transportation of vital resources.
Oil and gas contractors provide specialised services and equipment for exploration and production. They can work on land or offshore, from the North Sea to the Middle East, in roles such as:
Drilling
Contractors perform key drilling operations, including deep water well control.
Construction
Contractors perform construction and maintenance work, often in extreme conditions.
Logistics
Contractors provide logistical support to the industry worldwide.
Environmental services
Contractors provide critical environmental services in a wide range of locations.
Consultancy
Specialist contractors consult throughout the industry, such as in project management, risk assessment, seismic exploration, environmental regulation, drilling work and optimising operations.
The specialist oil and gas contractor mortgage broker
Long shift patterns? Lots of travel, onshore and off? Being an oil and gas contractor may come with plenty of benefits – like a greater choice of diverse projects and generous remuneration, international opportunities, and high flexibility – but it doesn’t leave much time for arranging your mortgage… that’s where we can help.
Freelancer Financials is a specialist mortgage broker to the oil and gas industries. Clients that we’ve helped also include project managers, designers, electricians, NDT (Non-Destructive Testing) and inspection, RF (Radio Frequency) testers, rope access contractors and well supervisors.
Speak to the experts
Our clients can face more risks in a week than a 9-5 office worker ever will in all their entire working life. But what happens when you say you’re an ‘offshore contractor’ to an in-branch mortgage advisor at a High Street lender? You risk being shunned as a complex case (“computer says no”) or they misunderstand the nature of your Limited or Umbrella Company income, leading to punitive terms being imposed.
Arranging mortgages for oil & gas contractors is part of our DNA, our mortgage service is unrivalled. We understand the pressures you are under to deliver services that are essential to your end client.
Specialisation and a strong understanding of the industry you work in, allows us to tailor our service to ensure convenience and efficiency when it comes to arranging your mortgage. We are proud to offer an outstanding service that understands both you and your requirements. Over the years we’ve helped thousands of oil & gas contractors secure mortgages.
How your payment structure can limit your mortgage options
The barrier to getting a competitive mortgage is neither what you do nor the way you do it.
The biggest risk you face to getting a contractor mortgage is your payment structure. If you work through a limited company you may keep your take-home pay artificially low to boost dividends later on, or you may work under an umbrella company to protect your exposure to IR35.
Either way your payslips and accounts will confuse an in-branch mortgage advisor without the relevant experience. They’re stuck with their own bank’s inflexible lending criteria and attitude to risk, meaning your application could be going nowhere, fast. To get your mortgage you need for the home you deserve, a specialist mortgage broker is the solution.
Your true mortgage affordability as a contractor
The biggest problem all professional contractors face is accessing terms that allow them to borrow what they can really afford!
We know, as do the underwriters we deal with direct, what mortgages offshore contractors can truly afford. Your application in our hands will secure you a competitive mortgage rate. The amount you can borrow will reflect your contract rate, not a post-tax ‘salary’.
At Freelancer Financials, your affordability will be assessed against your gross contract rate. Use the calculator below to see what you could borrow based on your contract day rate, and contact our broking team to secure you the mortgage your hard work deserves.
Types of mortgage available
Our flexible, competitive solutions are designed to make your mortgage journey easier. We offer a range of mortgage products designed for oil and gas contractors, including:
First-time buyer mortgages
Home mover mortgages
Remortgages
Buy-to-let mortgages
Compare the best mortgage deals for oil and gas contractors
Ready to secure the mortgage you deserve?
Get in touch with our expert team today and take the first step toward a mortgage that truly reflects your earning potential. Contact us now and let’s make it happen.