5 Secret Weapons To Getting A Contractor Mortgage

19th February 2020 / in Contractor Mortgages & Protection Blog / by Gordon Hunter, MD

Getting a contractor mortgage doesn’t have to be as difficult as you think. The mortgage application and approval processes for larger lenders has, in the main, been created for regular employees not contractors. Though, with the right specialist knowledge and secret weapons you could be on your way to getting a contractor mortgage. Read on for our 5 Secret Weapons to Getting a Contractor Mortgage.

  1. Get A Specialist Sidekick

We know the very one…

While it may seem biased that we suggest using a contractor mortgage specialist, it is a benefit.  It is important that you get advice from a broker that is familiar with the contracting world so you can be sure the advice you receive is suitable.

For a contractor, working with contractor specialist provides two key benefits; potentially access to more mortgage products, and a dedicated adviser who deals directly with head office. We have built relationships with contractor friendly lenders who provide mortgages based on day rate and current contract. Rather than the number of years you have been working as a contractor.

Download our Contractor Mortgages Myths guide now

  1. Save the Day and Save Money

Generally, you won’t get anywhere with a mortgage without a deposit. At the moment, you can secure a mortgage with at least 5% of the property’s value. Having a larger deposit will make you less risky for mortgage lenders and as a result they’ll generally offer you more competitive mortgage deals with lower interest rates.

  1. Keep Your Credit Rating Super Clean

A super clean credit rating is key to getting your mortgage application accepted. You could have a good income and a good sized deposit, but your mortgage application could still be refused if you have a poor credit rating. Missing credit card payments or not being on the electoral roll at your current address can make all the difference.

  1. Make Sure Your Contract Is Fighting Fit

A copy of a completely up-to-date, signed contract is a must. Ensuring that the length of service and day rate is clearly visible can be vital in securing a contractor mortgage. Lenders require this information as support for your application for a mortgage. It can save you masses of admin and the stress of having to supply three years worth of accounts.

  1. Documents… ASSEMBLE

Make sure you have all the correct documents in order and to hand, these can include:

  • Suitable ID
  • Copy of Current Contract
  • Last Six Months Bank Statements
  • Copy of CV

This differs for the time you have been contracting for. See what documents you need for a contractor mortgage.


At Super Contractors, we specialise in contractor mortgages. We understand the financial status of contractors and work alongside head office underwriters who are contractor friendly to get our clients the mortgage they need.

For more information about getting a mortgage as a contractor, join us – call  0800 211 8700 or fill out our online enquiry form

Your home may be repossessed if you do not keep up repayments on your mortgage.

This firm charges a fee of up to £395 for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

Lifetime Finance Group Limited trading as Super Contractors is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.

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