And as many lenders now make offers purely on daily contract rates – not years of company accounts – you could secure a mortgage as soon as you start contracting.
Our team’s knowledge of the contractor mortgage market, and excellent relationships with lenders, ensure you get the best offers
We’ve no tie-ins with certain lenders. As we’re fully independent and unbiased our focus is solely on finding the best option for you
We don’t ask for any payment until your self-build mortgage deal is complete
We’ve been recognised for our fantastic range of products due to our large network
Our team of specialists will guide you through the process of securing a mortgage, buying a home or taking out a loan – finding the very best deals for you and your family.
Despite their ‘higher risk’ nature of work, contractors and freelancers are increasingly being assessed in the same way as company employees for mortgages.
And, as our expert advisors at MortgageKey are completely independent, keeping up-to-date and in contact with a wide variety of lenders, we can secure deals much which are more straight forward than if you walked into a high street bank.
Contractor mortgages are a specially designed for people whose income is reliant on contracts. All of the normal mortgages can still be accessed, but given there are no firm guarantees about the monthly repayments once a contract comes to an end on a project, a significant financial assessment should be expected and prepared for.
At MortgageKey we have found there to be a good range of lenders willing to offer mortgages to contractors and freelancers, and for quite some time this has been based purely on their contract rates, so there’s no need for a backlog of accounts to secure a deal.
Like any mortgage deal, the bigger deposit you are able to commit to the better, but it is myth that contractors have to put down a much larger deposit payment than people who are employed. Factors including income and period of borrowing come into consideration as they do all mortgages. There are contractor mortgages being offered with 10% deposits.
A high street bank or building is likely to ask for a number of years accounts, which of course places a major obstacle in the way of first time contractors. At MortgageKey, our complete independence means we can research and find the very best deal to suit your individual circumstances.
We know there are many lenders who are very understanding of how contractors work and our team can advise on the most competitive mortgage interest rates being offered.
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