Securing mortgage finance as a contractor can be a real struggle without help. It’s not because you don’t earn enough. The struggle is finding lenders who can see your true worth.
Because contractors gear accounts for tax-planning, they keep their salary and dividend payments low. This is a great tactic for staying beneath the higher rate tax threshold.
But it has the opposite effect in the eyes of a high street lender looking at those same figures. To them, contractors don’t earn enough to afford a mortgage.
For newbie contractors, the scenario is even worse. They don’t have the prerequisite two years trading history many lenders demand.
Unbiased advice for contractors, new and old
We’ve designed our contractor mortgage guides to provide straightforward advice and helpful information. Whether you’re a veteran contractor or new to the lifestyle, you’ll find value, here.
There’s generic advice, for those curious about how contracting affects getting a mortgage. Then there are more focused guides, for those with a plan in mind:
You’ll find these pages in a constant state of growth, so well worth bookmarking. More and more lenders are warming to contract-based underwriting. As a result, our guides library will only grow to reflect the changes in the market.
Information from award winning contractor mortgage specialists
Our goal is to provide a one-stop database detailing how to get a mortgage as a contractor.
Why do you need a resource like this? Well, there’s a lot of incorrect or inadequate information on the Internet.
You’ll find many affiliate websites who don’t understand the first thing about contracting. Yet they’re peddling information that will damage your chances of securing a mortgage!
We want to shield you from these charlatans and shelter you from these sharks. We’ll explain why specialist brokers hold the key to you securing competitive contractor mortgages.
Our approach ensures the funding you secure reflects your true earning potential. We make sure your application reaches someone who can see what you’re worth.
At Contractor Mortgages®, we deal with senior underwriters direct, not the High Street. We’re not a front for a panel of lenders. We access the whole contractor mortgage market for the loan that’s right for you.
We hope you find this resource informative and useful. Have we missed anything? Let us know if there’s something we should be covering. We’re only ever a call or click away if you need clarification on any of the aspects in our guides.