Unfortunately many high street lenders see contractors as being self-employed regardless of the terms of their contract.  As a consequence a contractor or freelancer may find it more difficult to secure a mortgage.

High earning freelancers may be shunned by high street lenders because they are deemed too risky to take on. Big-name mortgage lenders can turn you down because you have not been contracting for a period of three years or more.

The good news a number of lenders have woken up to the fact that contract workers are a perfectly safe lending risk. 

Getting the Best Deal

Some of the products suitable for contractors are often only available through an authorised intermediary such as a mortgage broker. Use the enquiry form on this website to contact an independent broker with expertise in assisting contractors and freelancers.  They have access to the whole mortgage market in the UK and can locate the best mortgage for contractors.

They'll have access to a number of schemes suited to contract workers including some which don't require you to prove your income - known as self cert mortgages.

Flexible

Your mortgage could be tailored to adapt to your changing circumstances. You could make overpayments or a pay lump sum when cash flow is good and make underpayments or take payment holidays when required.