Want a contractor mortgage but have no prior accounts? No problem. Call 0800 048 8828.

Obtaining a contractor mortgage is possible from the first day of your contract if you know which lenders to approach.

Previously, mortgage providers had strict lending policies when it came to approving loans for those who worked for themselves under contract. Initially, contractor mortgages were restricted to those who worked in IT and had no less than 3 years’ accounts. Lenders also asked for previous work history prove the applicant had experience in the IT sector, plus a number of references from a variety of sources as well as your credit rating. These criteria combined created a significant barrier that many contractors couldn’t overcome.


However, this is now no longer the case as many lenders have reviewed their lending policies.

Contractor mortgages are available today to those:

  • who work in niche sectors
  • with less than 3 years’ accounts
  • who can provide a gross contract value or
  • who have a daily rate – minimums may apply depending on the lender
  • who can provide a current CV

Even if you only have a 5% deposit, there are lenders who are part of the government’s Help to Buy scheme and we can help you access one of these mortgages too.

Just because you work for yourself, it doesn’t mean you have to miss out on the benefits offered with standard mortgages for those in regular employment. You do have to have market knowledge, though, and this is where Deal Direct can bring a high level of value to your mortgage search.

For contractor mortgages call 0800 048 8828.

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Article published: Thursday, May 03, 2018
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