Contractor Mortgages Simplified

For contractors and freelancers, acquiring a mortgage at a reasonable rate has traditionally been a frustrating and time-consuming process. We have changed that!

Looking for a contractor mortgage?

We can secure you a competitive mortgage based solely on your contract rate.We have negotiated realistic rates with several high street lenders that are willing to provide competitive mortgages to contractors and freelancers. They understand how to properly assess your relevant earnings, in order to provide affordable financing.

Irrespective of your payment structure, whether it be through your own limited company or a UK payroll umbrella firm, we can find you a competitive mortgage through one of our lenders. The only documentation you need to provide is a signed copy of your contract, your CV and 3 months’ bank statements.

Your contract rate will be the basis of your mortgage amount, not pay slips or tax returns, which probably don’t accurately reflect your disposable income, regardless. As a result, you’ll be able to qualify for a larger mortgage than if you were assessed by lenders’ typical affordability assessment criteria.

How to compute your borrowing potential

As a rule of thumb, you can compute the typical borrowing potential as follows:

current contract rate X number of days per week X 46 weeks per year X 4.25

Thus, at £500 per day for a five day work week, you may be eligible for a £488,750 mortgage.

C&F Mortgages are specialists in advising and arranging mortgages for contractors and freelancers.

Our typical clients include:

  • IT Programmers;
  • Business Analysts;
  • Engineers;
  • Telecom consultants;
  • Management Consultants;
  • Operational Risk Management;
  • Change Management;
  • Marketing Consultants;
  • Accountants;
  • Actuaries;
  • Architects;
  • Surveyors;
  • Oil & Gas;
  • Doctors;
  • Medics;
  • Teachers.

Historically, freelancers have been penalised by lenders when sourcing a mortgage. Bank branch staff struggle to understand the freelancer’s world. Many of our referred clients have been let down by non-specialist brokers who approached the wrong lender or packaged the application improperly. This usually caused the contractor to be quoted an exorbitant rate or resulted in a frustrating refusal after a lengthy process.

Why C&F Mortgages?

We offer a clear and impartial service to bypass the frustration of being rejected by lenders with an out-of-date bias towards permanent employment. We can secure the most competitive mortgages, regardless of how you receive your daily rate. We understand that for tax reasons, many contractors draw a minimum salary and restrict dividend draws from their company to avoid a higher rate of personal tax.

C&F Mortgages are independent, whole of market mortgage brokers. We help buyers who wish to:

  • make their first home purchase;
  • trade up – to a better home;
  • buy a second home as an investment;
  • refinance an existing mortgage;
  • Whichever category you fall into, we can help.

Any of these should persuade you to get in touch…

ALL of them apply!

  • We have bespoke “contractor friendly” underwriting terms with several high street lenders;
  • We provide you with a single point of contact for your mortgage application;
  • We will work proactively and tirelessly to process your mortgage as quickly as possible;
  • We keep you fully up to date with your mortgage application;
  • We can also provide you with income protection & critical illness coverage.

Click here now, for a free consultation.

I secured a competitive mortgage based on my contract rate alone!

For a free consultation click here

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Our Partners & Promotions

  • Private Medical InsuranceAs a self employed contractor or freelancer, if you fall ill and are unable to work, it's going to cost YOU money. We've teamed up with one of the leading providers of health insurance in the UK to provide you with preferential rates on a range of 'contractor specific' health plans, aimed at getting you & your family the best possible medical care.

  • Contractor Life Insurance

    Contractor Life InsuranceYou can save tax on your Life Insurance payments with Relevant Life Policy. Limited company contractors can now protect their families with a life insurance policy, termed “Relevant Life” funded by their business and for the first time, have no income tax or benefit in kind considerations.

  • Discounted IR35 Insurance

    Discounted IR35 InsuranceAn IR35 investigation could cost you THOUSANDS in backdated interest, tax and penalties, let alone the legal fees to represent you. The Qdos tax liability policy covers the legal fees AND any tax loss suffered as a result of an IR35 investigation. Use code QB4WRDTS for a 7.5% discount on ANY Qdos tax enquiry and IR35 insurance product.

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Disclaimer: The financial advice on this website is provided by C&F Mortgages, a trading name of Mortgage Quest Limited, which is directly regulated and authorized by the Financial Services Authority (FSA). Some products are not regulated by the Financial Services Authority, for example Buy To Let mortgages. If you fall behind with the repayments on your mortgage, your property may be repossessed. Please also be advised that the value of your investments may go down as well as up, and that the performance of certain financial products in the past provides no guarantee to a future return on investment.

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