Contractor mortgage calculator: how much can I borrow?

Whether you’re a contractor, an umbrella employee, or applying jointly with a PAYE partner, our calculator gives you an instant estimate tailored to your income. No payslips. No lengthy assessments. Just clarity.

 

How much can I borrow?

Your contract rate is the key to your mortgage, and our calculator estimates your borrowing power in minutes. It’s ideal for individual and joint applications, whether your partner is a contractor or not.

Here’s how we calculate:

  • Day rate × 5 (working days)
  • × 46 (working weeks)
  • × 4.5 to 5.5 (income multiple)

Example: A contractor earning £375 per day could borrow:
£375 × 5 × 46 × 4.5 = £388,125

This is an approximate figure. For tailored advice, speak to our award-winning brokers.

How much can I borrow as a single applicant?

What happens next?

Take the next steps toward securing your mortgage with ease. Whether you’re planning your finances, comparing deals, or ready to speak with an expert, we’ve got you covered. Here’s how to keep moving forward:

  1. Explore our other tools:
    • Repayment calculator: Plan your monthly costs.
    • Stamp duty calculator: Know your upfront expenses.
    • Mortgage comparison tool: Find the best deals for you.
  2. Get tailored advice and recommendations from our expert brokers.
  3. Secure an Agreement in Principle and move forward with confidence.

Start your mortgage application today

Calculators are a starting point

Our calculators provide quick estimates to guide you, but they won’t replace tailored advice or a lender’s formal decision. Use them as a helpful first step and let us handle the rest.


What affects your borrowing and repayments? It’s not just about your income. Lenders look at these factors, which shape how much you can borrow and what you’ll pay monthly:


Deposit size and loan term

A larger deposit or shorter term can improve your options.

Credit history

Your track record matters; good credit often means better deals.

Financial commitments

Existing debts or expenses impact affordability.

Dependents

More dependents can affect how much you can borrow.

Contract details

Your rate, contract length, and experience play a big role.

A contractor checking how much she can borrow for a mortgages based on her day rate alone

Why Freelancer Financials?

We’re award-winning specialists with years of experience and a laser focus on contractors.

As an independent broker, we find the best deals, and thanks to our strong partnerships with contractor-friendly lenders, we can access rates you won’t find on the High Street.

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Ready to get started with your mortgage application, just need some advice or want to request a call-back?

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