Prove your income to find better contractor mortgage rates.

To find the best contractor mortgage rate possible for your circumstances, proving your income is key.

If you ever applied for a mortgage while you were employed, you would know that lenders typically ask for just 3 months pay-slips to demonstrate that you are in employed and what your salary is. However, if you are a contractor, it’s not quite so simple as the same criteria doesn’t apply.


Typically, lenders who offer mortgages for contractors can ask for:

  • an SA302 tax calculation from HMRC
  • full business accounts for up to 3 years
  • your contract, past contracts and current daily rate of pay
  • proof of demand for your services

The more evidence you can provide, the better as this can help you to secure a rate that wouldn’t available to other contractors with less evidence of their income.

The differences in the lending criteria adapted by contractor mortgage providers can be huge. Navigating the differences is much simpler with the help of Deal Direct as we have more than a decade’s experience in sourcing these types of mortgages.

Over the years we’ve built up strong relationships with lenders that can be very useful when it comes to pushing an application through. Because of the level of trust established between us, certain lenders would consider an application coming via ourselves where they otherwise would not.

Therefore, if you want the best mortgage rate possible and for your application to eb given the proper consideration, come to Deal Direct for contractor mortgage advice.

Call our offices today on 0800 048 8828.  

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Article published: Monday, October 29, 2018
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