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The Difficulties in Securing a Mortgage as a Professional Contractor

The Professional Contractor Community

The number of people working on a contracting basis rather in permanent work is ever increasing. Now more than ever there are a multitude or methods by which contractors can pay themselves and with legislation and taxation around contracting constantly changing this is likely to continue changing.

For these very reasons clients need professional advice when looking to secure mortgage funding as a professional contractor.

Securing a mortgage as a Professional Contractor

  • When looking to secure a mortgage for contractors, upfront research is key. By engaging with underwriters early on a specialist broker can ensure any potential issues are addressed before application stage.
  • All mortgage Lenders view contractors in a different way and whilst a good number are willing to help, differing conditions do need to be met.
  • As a contractor it is key to understand how your income and taxation method will be assessed for mortgage lending purposes. A declined application can make funding from elsewhere more difficult.
  • Some Lenders require years of contracting history, others may be able to assist from day one, some look at taxable income drawn, others look at profit made, some will assess on daily rate etc etc. Professional Contractor Mortgages can guide you through the maze of options to find the lender that caters for your particular circumstances.

The great news is that help is at hand from Professional Contractor Mortgages

With years of experience and know how, we will listen, explain, guide, research and feedback what can be achieved. Presenting you and your situation in the correct way to the right Lender will mean the same competitive outcome that is available you as a permanent employee.