Flexible Mortgages for Contractors, Freelancers & Self-Employed Professionals
CONTRACTOR MORTGAGES EXPLAINED
Whether you’re in Aberdeen, London, or anywhere in the UK, our expert team provides clear, friendly Contractor Mortgage solutions.
A Contractor Mortgage makes it possible to get on the property ladder—even without a traditional payslip. Whether you’re an IT consultant, construction contractor, freelancer, or working under an umbrella company, we offer tailored contractor mortgage solutions to help you buy, move, or remortgage with confidence.
At Hay-House Financial Services, we specialise in helping self-employed and freelance professionals secure the mortgage they deserve.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What is a Contractor Mortgage?
A contractor mortgage is designed for individuals who work on short-term contracts or operate outside standard employment. Unlike traditional mortgages that rely on salary slips, contractor-friendly lenders assess affordability based on:
- Day rates
- Contract length and value
- Limited company income or retained profits
- Self-employed accounts or umbrella payslips
This flexibility allows contractors to access competitive rates, even with less than two years of trading history.
Why choose a Contractor Mortgage?
Many contractors face challenges when applying for a standard mortgage, such as:
- Rejections from high street lenders
- Demands for 2–3 years of accounts
- Misunderstanding of contract-based income
We work with contractor mortgage specialists who understand your unique income model. Whether you’re under IR35, CIS, or working through your own limited company, we’ll find the right solution.
Who qualifies for a Contractor Mortgage?
We assist a wide range of professionals including:
- IT contractors and tech consultants
- Construction industry workers (including CIS scheme)
- Oil & gas and engineering contractors
- Medical locums, GPs, and nurses
- Freelancers and creatives
- Limited company directors
- Umbrella company employees
If you’re self-employed, we can help you find a mortgage for contractors that fits your situation.
How Much Can You Borrow?
We assist a wide range of professionals including:
- Your current day rate × days worked per week × 46–48 weeks
- Annualised income from contracts
- Limited company profit or one year’s accounts
- Evidence from your most recent contract
We’ll help you maximise affordability by presenting your income in the most favourable way to lenders.
Contractor Mortgage key features
- Based on day rate or contract value
- No need for 2–3 years of accounts with many lenders
- Buy-to-let and residential
- mortgages available
- Support with IR35, CIS scheme, and umbrella structures
- Suitable for first-time buyers, home movers, and remortgaging
- Quick, expert advice tailored to your industry
We’ll help you maximise affordability by presenting your income in the most favourable way to lenders.
Can I get a mortgage as a new contractor?
Yes! Many specialist lenders accept current contracts or even just 3–6 months of contracting history.
Do I need a permanent job?
Not at all. A contractor mortgage is based on your actual income—not on whether you’re employed full-time.
Can I apply if I work through an umbrella company?
Absolutely. We have lenders who understand umbrella structures and will use your payslips or contract details to assess your application.
Contractor Mortgage real-life example
James, a freelance IT contractor earning £500 per day, was declined by high street banks due to only having one year of accounts.
We matched him with a contractor-friendly lender who approved his mortgage based on his contract alone. Today, he owns his dream home—no stress, no delays.
Why Choose Hay-House Financial Services?
- Decades of experience helping contractors and freelancers
- Direct access to exclusive contractor mortgage deals
- In-depth knowledge of CIS, IR35, and umbrella arrangements
- Fast, transparent advice from real people
- End-to-end service — from initial consultation to completion
Ready to make your income work for you?
Let us help you turn your contracting success into home ownership. Whether you’re a first-time buyer or looking to remortgage, our expert contractor mortgage advice will guide you every step of the way. Contact Hay-House Financial Services today for expert advice.
Call us on 07502 523238 or Email sl@hay-house.co.uk to book your consultation today for expert, financial advice you can trust.