Contractor Mortgage

Are you a self-employed contractor in the UK, looking to step onto the property ladder or secure a new mortgage? Mortgage321 is here to simplify the process for you. As a contractor, your financial situation might be a bit different from traditional employees, but that doesn't mean you can't achieve your homeownership goals.

​

Why Choose Mortgage321 for Contractor Mortgages?

Our team understands the unique financial circumstances that contractors face, and we have the expertise to find the right mortgage solutions tailored to your needs.

Here's why Mortgage321 is your trusted partner for contractor mortgages:

​

1. Specialisation: We specialise in working with contractors, so we know the challenges and opportunities in this field.

2. Access to Lenders: We have access to a wide network of lenders who offer competitive mortgage rates to contractors, including those who work via limited companies or as sole traders.

3. Tailored Advice: We provide personalised advice based on your specific contracting situation, ensuring you get the best mortgage options available.

4. Efficiency: Our streamlined processes and expert knowledge mean you can secure your contractor mortgage more efficiently.

Contractor Mortgages: Key Benefits

​

1. Flexible Criteria: Lenders we work with understand the variability of contractor income and are more flexible in their lending criteria.

2. Competitive Rates: We can help you access competitive mortgage rates that are typically reserved for permanent employees.

3. Maximise Borrowing: Our experts will guide you on how to maximise your borrowing potential based on your contract income.

4. Efficient Application: We'll assist you in preparing your mortgage application, making the process smoother and faster.

Eligibility Criteria

Contractor mortgages have different eligibility criteria compared to standard mortgages. Here are some common factors lenders consider:

​

• Contract Length: Most lenders prefer contracts with a minimum duration, typically ranging from 6 to 12 months.

• Income Proofs: You'll need to provide income evidence, such as contracts, bank statements, or accountant-certified accounts.

• Limited Company Contractors: If you work through a limited company, lenders may want to see your salary and dividends.

• Sole Traders: Sole traders may need to provide business and personal bank statements.

​

The Mortgage Application Process

​

1. Consultation: Start by scheduling a consultation with Mortgage321 to discuss your contracting situation and homeownership goals.

2. Mortgage Research: Based on your circumstances, we'll help you choose the right mortgage product.

3. Documentation: Prepare the necessary documents, including contracts, bank statements, and income proofs.

4. Application Submission: We'll assist you in completing the mortgage application and submit it to the chosen lender.

5. Approval and Completion: Once approved, you'll move towards completion, where the funds are released, and you can purchase your property.

​

Contact Us Today

Don't let your contracting status hold you back from owning your dream home. Mortgage321 is here to help you navigate the world of contractor mortgages in the UK. Contact us today for a consultation, and let's get started on your homeownership journey.