Mortgages for Oil & Gas contractors
We appreciate the risks an Oil & Gas contractor faces every day. Your work is technical, ground-breaking, safety-critical and often dangerous.
What you earn, you work hard for. Our experience can translate your graft and expertise into landing the home you genuinely deserve.
What does an Oil & Gas contractor do?
The oil and gas industries are a complex and ever-evolving landscape. It houses a diverse range of players, involved in the production, exploration, and transportation of vital resources.
Oil & 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
Performing key drilling operations, including deep water well control.
Construction
Performing construction and maintenance work, often in extreme conditions.
Logistics
Providing logistical support to the industry worldwide.
Environmental services
Providing critical environmental services in a wide range of locations.
Consultancy
Where specialist contractors consult throughout the industry. This includes project management, risk assessment, seismic exploration, environmental regulation, drilling work and optimising operations.
The specialist Oil & Gas contractor mortgage broker
Being an oil and gas contractor may come with plenty of benefits. Greater choice of diverse projects, generous remuneration, international opportunities, and high flexibility to name a few.
But the long shift patterns? The endless travel, off- and onshore? And spending so much time ‘offshore’ leaves little time for arranging your mortgage…
…and that’s where we can help.
We’re a specialist mortgage broker to the oil & gas industries. Clients we’ve helped include project managers, designers, electricians, NDT and inspection, RF testers, rope access contractors and well supervisors.
If you work in the oil & gas industry, we can help you, too.
Speak to the experts
Our oil & gas clients can face more risks in a week than a 9-5 office worker will in their entire working life. But what happens when you tell an in-branch mortgage adviser that you’re an ‘offshore contractor’?
You risk them shunning you as a complex case (“computer says no”). Or they misunderstand the nature of your Limited or Umbrella Company income. Either will lead to them imposing punitive terms alongside any mortgage offer.
Specialising in your industry allows us to tailor our service to arranging mortgages for oil & gas contractors.
Since 2004, we’ve helped thousands of contractors buy their homes. This vast experience ensures convenience and efficiency that get to the heart of both you and your unique requirements.
How your payment structure can limit your mortgage options
The barrier to you getting a competitive mortgage is rarely what you do or 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 purposefully low to boost dividends later on. Or you may work through an umbrella company to protect your exposure to IR35.
Either way, your payslips and/or accounts will confuse an inexperienced in-branch mortgage adviser. They’re stuck with their own bank’s inflexible lending criteria and its attitude to risk. This all means your application could be going nowhere fast.
You needn’t go through this rigmarole. Appointing a specialist broker will get the mortgage you need for the home you deserve in double-quick time.
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 truly afford!
We know, as do the underwriters we deal with direct, offshore contractors’ mortgage borrowing potential. Your application in our hands will secure you a genuinely competitive mortgage rate. The amount you can borrow will reflect your contract rate, not a post-tax ‘salary’.
We will assess your affordability based on your gross contract day rate. The calculator below will show you what you could potentially borrow using this method instead of accounts. If you’re happy, contact our broking team to begin the journey towards the mortgage your hard work deserves.
Types of mortgage available
Our flexible, competitive mortgages are designed to make your homeownership quest easier. We offer a range of mortgages tailored to 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 broking team today. They’ll help you take the first step toward a mortgage that truly reflects your earning potential. Click ‘Get started’ now and let’s make it happen.