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Contractor or Self Employed Mortgages

Hannah’s Self Employed Story

It is possible to get a mortgage if you are a contractor or self-employed.

Many people believe that once they are self-employed or contracting they will not be able to get on the housing ladder or be able to remortgage.

Mortgages for contractors are no different to other mortgages but the lender assesses your application differently when looking at how likely you are to pay the mortgage back.

Mortgage Pathways works with a number of specialist lenders some of whom won’t only take your accounts into consideration but other information too.  The specialist lenders that we work with will look at your gross contract rate if you are a contractor, with less focus on how you get paid as they understand that different contractors use different vehicles to pay themselves. Some will also allow for fluctuating income.

We work with lenders who will look at your application on an individual basis, using multiples of your contract rate to provide you with a mortgage.

Typically you need a current contract in place and need to be able to show some continuity in the work that you do, although some people who are new to contracting will also be accepted. You will also need a copy of your CV.

To find out how we can help you, speak to one of our specialist contractor mortgage advisers today.

There may be a fee for mortgage advice, the precise amount will depend on your circumstances but we estimate that it will be £299. We do not charge a fee for our services for New Build Homes; we receive commission from the provider.

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Your home may be repossessed if you do not keep up repayments on your mortgage