Contract workers we help
Halifax was the first lender to launch ‘contract-based underwriting’, which still underpins contractor mortgages today. When they launched, the criteria were aimed at one type of contractor.
Fast forward 20+ years: contractor mortgages have expanded to cover much of the UK’s flexible workforce. Here, we provide an overview of the types of contractors we can now secure mortgages for.
We secure mortgages for a wide range of contractors
Stop wasting time with mortgage advisors who don’t grasp how you work. We understand all contract payment structures, as do the specialist underwriters we deal with.
Learn more about the mortgages for the way you contract, here:
Agency workers
Key to getting a mortgage as an agency worker is finding a lender who knows how to best assess agency income. Not all do, and will likely treat you as straight self-employed, which can be punitive. Our specialist brokers can match you with your best lender.
CIS workers
Unlock mortgage options tailored specifically to Construction Industry Scheme (CIS) workers. Our brokers use your annualised earnings to enhance affordability, rather than treat you as a self-employed entity. This will help you get the home you deserve.
Company directors
Traditional mortgage lending criteria often fail to grasp the nuances of company directors’ income. This makes it harder for directors to get the mortgage their income and status deserve. We’ll present your income to optimise your mortgage affordability.
IT contractors
IT contractors get frustrated with lenders who don’t grasp their unique financial set up. Typical mortgage criteria bypass the value of IT contract income, meaning rejections and complications. We show lenders what you’re truly worth.
Limited company contractors
Many lenders treat limited company contractors as self-employed. This often means they rely on SA302s and accounts to work out your affordability, ignoring the bulk of your income: retained profits. Try contract-based underwriting, instead.
Locums
Most lenders’ criteria use years of accounts or tax returns, overlooking locums’ variable earning patterns. This can lead to disappointing mortgage offers. Working directly with specialist underwriters, we assess affordability using your gross contract day rate.
Oil and gas contractors
Oil and gas contractors represent a workforce like no other. Differing shift patterns, physical risk, niche, expert skills and offshore working? They define ‘specialist income’. Our brokers use your contract day rate to present your income and status in their best light.
Seafarers and yacht crew
When you spend so much time outside the UK, how does that affect your ability to buy a home? We can help bridge the gap between residential and expat mortgages. Foreign currency pay? Irregular income? Extended shifts abroad? No problem.
Umbrella payroll company employees
As an umbrella contractor, you may be tempted to use your payslips to evidence income. But all those extra deductions only confuse traditional mortgage advisors. There’s a better way. We use your gross contract rate, giving you much larger borrowing potential.
Zero hour contractors
Zero hours contractors have long struggled to get mortgages. Even now, few lenders take a chance on such irregular work patterns. A selection of our lenders have tackled the problem head on, giving zero hours contractors access to mortgage finance.
Ready to secure the mortgage you deserve?
Begin the conversation with our expert team today. Together, we can take the first step towards a mortgage that reflects your true borrowing potential. Let’s make it happen!