Help – I’m a contractor on a zero hours’ contract – can I get a mortgage?

You are a contractor and you are on a zero hours’ contract, does that put an end to your contractor mortgage aspirations?

Not necessarily, which is why before you give up before you’ve even started, it would be wise to seek expert advice from Deal Direct.

Most professional contractors find their work via agencies and form a limited company through which to pay themselves. However, not all contractors are the same and, with the rise in popularity of the ‘Gig Economy’, many contractors have fixed term contracts with zero hours’ guaranteed and fluctuating levels of income.

Until recently, it has been a rare bank or building society that has catered to the needs of the contractor. This is changing slowly but products aimed to fulfil the flexibility required by contractors remain the domain of specialist lenders.

All lenders vary but some of them will consider applications from people whose:

• contract covered a maternity leave, or was for some other short period of time
• daily earnings fall short of the minimum day rate stipulated for a contractor mortgage
• level of experience in their industry is minimal

Deal Direct’s experience means that we have a level of awareness of each lender and their offering, which is hard to beat. This awareness means we can immediately recommend a lender based on your circumstances and you can begin the process of applying straight away.

Don’t waste your time trying to climb the contractor mortgage mountain by yourself.

Contact Deal Direct today on 0800 048 8828.