Contractor mortgages – what documentation should you provide? 

Before considering applying for a contractor mortgage, you should be aware of all the documentation required to support the application itself. 

All lenders have their own documentation requirements for loans, however, it would be wise if you are prepared to provide the following: 

• proof of identity – your passport or driving licence 
• proof of residency – bank statement, latest council tax bill or utility bill
• proof of deposit – the source of the funds needs to be demonstrated
• last 3 month’s bank statements – digital statements are generally acceptable as long as the bank name, account name and number, as well as the sort code, are clearly shown 
• proof of income -  contract and HMRC’s SA302

Some lenders may insist on seeing original documentation and may reject copies unless they are certified.

To find out which lender asks for what documentation and who, therefore, has a product and lending criteria that best matches your requirements, consult with the experts, Deal Direct. 

Because there is so much variation between lenders, if you attempt to apply for a loan from a lender without the benefit of our expertise and knowledge, you may find your application is rejected. This outcome would not be good news when attempting to apply to another lender, as they could take the view that a previous rejection means you are too high-risk to lend to.

To smooth the contractor mortgage application process and make certain of sourcing the right deal from the right lender, consult Deal Direct. 

Speak to an adviser now on 0800 048 8828.