The same competitive mortgage deals that are available to permanent employees are also available to Contractors.
All IT Contractors working in the UK, including those who have just started contracting can get the same competitive mortgages as permanent employees.
The key is choosing a competent mortgage broker to avoid the hassles of dealing with mortgage lenders and underwriters who are not familiar with the contracting market. An experienced mortgage broker can secure a competitive mortgage, easily and quickly, with as little fuss as possible.
We can arrange mortgages for IT contractors operating through different trading structures and payment mechanisms, including Limited company, Umbrella pay roll and EBT schemes.
Contractor Based Underwriting
There are currently very few mortgage specialists that cater specifically for IT Contractors in the UK. At Freelancer Financials we can present your mortgage application directly to underwriters to be assessed on your total contract earnings, including retained profits.
We have relationships with “High Street” banks that provide excellent mortgage rates that are simply based on a multiple of your annualised contract earnings (as much as 5 times your annualised contract income).
E.g. If you’re on a daily rate of say £450, you can potentially borrow as much as £540,000.
Click Here to find out how much you can borrow based on your contract rate.
For further reading on contractor mortgages, please go to our contractor mortgage guide.
We are the preferred choice for contractors in the UK. Our mortgage consultants are more than happy to assist you in any way they can. If you wish to discuss your mortgage requirements with a one of our advisers, please send an e-mail to [email protected] or contact us on 020 8421 7999
