Do I have to have a huge deposit to apply for a contractor mortgage?

If you are asking yourself the question whether it is possible to obtain a contractor mortgage with an average sized deposit, the answer is yes.

It is true that some lenders continue to adopt the attitude that contractor mortgage lending is highly risky. As a result, the deposits they ask for can be higher when compared to their regular mortgages ranges. However, this is not the case with mortgage providers who have really taken the time to understand lending to contactors and the self-employed.

These are the lenders that we work most closely with here at Deal Direct.


In more than 13 years of sourcing mortgages for thousands of contractor clients, we have built strong relationships with lenders who value your business. As a result of giving them your feedback, these lenders offer mortgages for contractors with deposits ranging from 5% – 25%.

We work with lenders who don’t penalise you for contracting. With our assistance, we can help you to obtain a mortgage:

  • from the start date of your contract
  • based on your daily rate
  • with no excessive reference requirements

As a contractor, it is likely that you already have a good credit rating and we can use this to demonstrate to lenders your ability to effectively manage your finances.

To discover what mortgages are available to you and how much you can borrow, chat with one of our team online now or speak to us directly.

Call Deal Direct on 0800 048 8828.

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Article published: Saturday, April 28, 2018
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