Contractor mortgages.

A contractor mortgage is designed for individuals working on a contract basis, such as freelancers, consultants, and self-employed professionals. Instead of relying on traditional payslips, lenders assess your current contract, day rate, and overall earning potential to understand what you can afford.

High street lenders often use stricter criteria and may require several years of accounts or consistent history, which can make things more difficult for contractors. Together takes a more flexible approach, considering factors like short contract terms, recent renewals, gaps between contracts, and variable income.

As a contractor, it can be more difficult to get a mortgage, but certainly not impossible. The process is similar to that if you’re self-employed, and we’ll consider a range of applicants with varying contract lengths, including zero-hour contracts.

At Together, we’ll work with you to understand your individual circumstances, and we can take up to 100% of your income into account when you apply for a contractor mortgage.

Specialist lenders like ourselves also look more favourably on contract or freelance workers if they can demonstrate a solid and stable working history, even if they have taken up different contracts or moved into different sectors, or have multiple sources of income.

Getting a mortgage as a contractor is very achievable, but the assessment process differs slightly from that of applicants in traditional employment and requires the right approach. Here are some key factors to consider before applying:

• Apply through a lender or broker that understands contractor income


• Be prepared to provide documents such as your current contract and proof of earnings


• Lenders may assess income using your gross contract value, rather than net profit


• Gaps of more than 4–6 weeks in the last 12 months can lead to stricter underwriting


• 12 months’ continuous work is typically preferred, although 6 months in your current role may be accepted in some cases (including zero hour contracts, bank workers, day rate contractors and agency workers


• High street lenders may decline applications that specialist lenders are able to support

This is treated in the same way as an employed customer. There are no different products or rates specifically for self-employed or contractors. The key difference is how income and affordability are assessed.

• Current contract
• Relevant payslips
• Details of your industry
• If on a short-term contract, your plans for when the contract ends