Mortgages for contractors
Mortgages for contractors
Day-rate and fixed-term contractors are assessed differently from permanent employees. Tony helps contractors across Scotland compare mortgage options from over 100 lenders and explains how lenders may use your contract and day rate.
Talk to TonyAt a glance
- Advice for day-rate and fixed-term contractors
- Access to 100+ lenders and around 28,000 deals
- Rated 5.0 from 235+ Google reviews
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
How Tony can help contractors
Many contractors earn well but find lenders see them as risky. The right lender sees it differently.
What lenders may look at
- Some lenders will use your current contract and day rate, usually with a history of contracting.
- Others will look at accounts or tax calculations over two to three years.
- A gap between contracts can matter, so your history is useful.
- The right lender depends on how you are paid and how long you have been contracting.
Meet your adviser
Hi, I'm Tony Flynn
I'm a mortgage and protection adviser based in Carluke, helping people across Lanarkshire and Scotland.
I've spent 15+ years in finance and have been named Mortgage Professional of the Year at the Prestige Awards Scotland five years in a row. I'll explain your options in plain English so you know exactly where you stand.
Contractor mortgage questions
Can contractors get a mortgage?
Yes. Some lenders assess contractors using their day rate and contract history, while others use accounts. Tony can search for the lenders that suit how you are paid.
How long do I need to have been contracting?
It varies by lender. Some may consider you with less than a year if you have a long background in the same field, while others want to see longer.
What if I am between contracts?
This can affect your options, so it is worth speaking to Tony before you apply.
Do you charge a fee for mortgage advice?
There may be a fee for mortgage advice. The amount depends on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. We will explain this before you commit.
Can you help with protection as well as a mortgage?
Yes. Tony can also advise on life insurance, critical illness cover and income protection alongside your mortgage.
Related pages
More advice for people in similar situations.
Ready to talk it through?
A quick chat with Tony is a good first step. No jargon, no pressure.
Talk to Tony