Contractor Mortgages Mortgages for contractors based on your contract rate alone!
Looking for a contractor mortgage? Let us secure you a competitive mortgage based on your contract rate alone.
We cater for all trading vehicles and payment structures for contractors. Irrespective of whether you operate through your own limited company or a UK payroll umbrella company, you needn’t worry about being turned away by lenders who fail to understand how to assess your relevant earnings for lending purposes.
You can access the best mortgage rates from high street lenders… No accounts or payslips required!
We can secure you a mortgage from high street lenders based on your contract rate alone. This also means that you don’t have to rely on the traditional method of using accounts, pay slips or tax returns, which is unlikely to reflect the total earnings that you have at your disposal for income verification on a mortgage application.
This allows you to borrow substantially more than if you were being assessed using lenders standard affordability assessment criteria. In order to calculate how much you can potentially borrow, multiply your current contract rate by the number of days contracted to work in a week and then by 46 weeks in a year. We can generally secure a mortgage of around 4.25 times this total. Therefore, a contractor on £500 per day could potentially borrow £488,750 to purchase their home.
What documents will we require to package your mortgage application?
All you need is a signed copy of your contract, CV and 3 months bank statements.
Mortgages tailored to your specific Requirements
Freelancer Financials are specialists in advising and arranging mortgages for contractors and freelancers. Our clients range from IT Programmers, Business Analyst, Engineers, Telecom consultants, Management Consultants, Operational Risk Management, Change Management, Marketing Consultants, Accountants, Actuaries, Architects, Surveyors, Oil & Gas, Doctors, Medics and Teachers.
Historically lenders have penalised Freelancers when it comes to sourcing a mortgage. Bank branch staff struggle to understand the Freelancer’s world. Many contractors referred to us have been let down by non-specialist brokers who have approached the wrong lender or poorly packaged the application.
Why should I choose Freelancer Financials?
We offer a clear and impartial service to bypass the frustration of being rejected by lenders with an out-of-date bias towards permanent employment. We can secure the most competitive mortgages regardless of how your daily rate is paid to you. We appreciate that for tax reasons many contractors will draw a minimum salary and also restrict dividend drawings from their company to avoid higher rate personal tax.
Whole of Market
Freelancer Financials are independent, whole of market mortgage brokers. Whether you’re a first time buyer or “trading up” to a house that reflects your life style or even looking to buy a second property for rental returns and medium to long term investment growth, or simply looking to save substantial amounts of money each month on your existing loan by remortgaging – we are here to help
Which of these reasons persuade you to get in contact?
- We have bespoke “contractor friendly” underwriting terms with several high street lenders
- We provide you with a single point of contact for your mortgage application
- We will work proactively and tirelessly to complete your mortgage in the shortest possible time
- We keep you fully up to date with your mortgage application
- We can also provide you with income protection & critical illness cover
Testimonials
"We have been introducing Contractors and Freelancers to Freelancer Financials for several years now. They have established themselves as the preferred choice of financial advisors to all our IT contractors and Freelancers."
Bernie Potton SQ Computer Personnel (largest independent IT Recruitment Agency in the UK)
"John Yerou and his team provided the brokerage service for my last 3 mortgages and I cannot rate them highly enough. No matter how large or small the request they always provide a speedy and professional response. I would never consider using another advisor/broker."
Roz Clifford… Freelancer
"Finding a Financial Advisor who’s professional and knowledgeable is a bonus but one that you trust and feel comfortable with immediately is rarer still. I have recommended John to virtually all the other IT Contractors that I work with and will continue to use their services in the future."
Jakub Baluch... IT Contractor
