SPECIALIST ADVICE
Contractor mortgages
Contractors can be assessed through accounts, payslips, umbrella income or the value and duration of an eligible contract. We choose the route that matches how you actually work.
Turn contract income into a clear lending case
Contractors can be assessed through accounts, payslips, umbrella income or the value and duration of an eligible contract. We choose the route that matches how you actually work.
Day-rate assessment
Some lenders annualise an eligible daily rate, allowing the contract to demonstrate income.
Contract history
Show continuity, renewals and experience in the same profession or industry.
Umbrella workers
Review payslips, deductions and assignment schedules with lenders that understand the structure.
Gaps between contracts
Explain planned or historic gaps and demonstrate ongoing demand for your skills.
Contractor mortgages FAQs
Can I get a mortgage on my first contract?
Potentially. Options depend on your profession, previous employment, contract length, remaining term and wider circumstances.
How is a day rate calculated?
Methods differ by lender, often using the daily rate multiplied by a set number of working days and weeks.
Do gaps between contracts cause a problem?
They may affect the choice of lender, but reasonable gaps can sometimes be accepted when the wider work history is strong.
YOUR SMART MORTGAGES CONTACT
Discuss your plans with the right adviser.
Aaron handles complex contractor income; mainstream cases are matched to a local adviser.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Commercial mortgages, bridging finance and some buy-to-let arrangements are not regulated mortgage contracts. Smart Mortgages Limited is authorised and regulated by the FCA, reference 912358.