Umbrella Contractor Mortgages

Umbrella contractors’ income confuses most High Street mortgage lenders.

True: umbrella contractors (or employees, if you prefer) are technically employed. But not in the way that fits neatly into lenders’ traditional pigeonholes.

And they have payslips, which untrained advisors are familiar with. But what do those extra deductions on umbrella payslips mean?

Moreover, why should these anomalies derail generic lenders’ affordability calculations, often resulting in a low—or no—mortgage offer for the contractor?

We’ve asked that question. For years.

Today, you’ll be glad to know, it’s a moot point. We bypass the call centres and in-branch advisors not trained in specialist income.

Instead, we go directly to specialist underwriting teams. Like us, their dedicated experts understand contract and umbrella income completely.

No need for:

• payslips
• SA302s, or
• accounts.

They just use commonsense underwriting, which maximises umbrella contractors’ gross day rate potential.