Frequently Asked Questions
We know that navigating the world of contractor finances can be complex. You probably have many questions relating to securing a mortgage, especially if it’s your first time..
That’s why we’ve compiled this comprehensive FAQ page. Here, you’ll find clear, straightforward answers to the most common questions clients new and old ask us.
If you don’t find your answer here, get in touch for expert advice about your specific situation.
Contractor FAQ's
Let’s start with the basics. Many contractors don’t actually realise that a contractor is what they are. Now, that may seem a strange statement, but it’s one worth highlighting.
We cover what we (and lenders) mean by ‘contractor’. Plus, we list many questions and answers resulting from our time talking with clients.
Many answers cover all homebuyers, not just independent professionals. But it’s self-employed contractors who need help clarifying their income the most. We hope we’ve got you covered.
What does becoming a limited company contractor entail?
What is a contractor mortgage and how hard is it to get one?
Why can’t I get a contractor mortgage on the High Street?
I've just started contracting. Will I be at a disadvantage?
What remaining time do I need on my contract for a mortgage?
Do I need 3 years accounts to prove earnings for a mortgage?
How should umbrella contractors best evidence their income?
What documentation must I provide to evidence my income?
Contractor mortgage FAQ's
We’ve ascertained that mortgage lenders make many incorrect assumptions about contractors. But it’s not all one-way traffic.
Conversely, those new to being self-employed also don’t yet understand how the products on offer to them differ from what they may have been used to as a permanent employee.
Call 020 421 7999 to speak to a specialist mortgage broker to discuss your circumstances.