Mortgages for Contractors

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Mortgages for Contractors is the subject of my new podcast episode, out now on all major podcast directories including Apple and Spotify.

In this podcast episode I tackle the subject of “mortgages for contractors”, giving you advice on how you can get a mortgage when you are a contractor.

It can be super confusing to know how to get a mortgage when you are a contractor, and you might be wondering how you prove your income.

Questions I answer in this episode:

  • What is a contractor mortgage?
  • Can I get a mortgage if I am a contractor?
  • How is my income worked out?
  • What if I am a CIS contractor?
  • What is the day rate calculation?
  • How to borrow with your day rate
  • Documents you need to get a contractor mortgage
  • How long do you need to have been a contractor for to get a mortgage?
  • What is the minimum contract period to get a mortgage?
  • Am I classed as employed if I am a CIS contractor?
  • Am I classed as self employed on a mortgage application?
  • What paperwork do I need to get a contractor mortgage?


To break down a typical day rate calculation for a mortgage lender:

  • Day rate x number of days worked per week.
  • Total x 46 or 48 weeks (this allows for assumed breaks for holiday and gaps between contracts)
  • This gives you the annual income we would use for a mortgage application.
  • This is then multipled by the lenders income multiple to give you an affordable mortgage amount.
  • As always, I aim to break this information down in a way that you will understand.

If you have any questions please email me at sarah@themortgagemum.co.uk.

I would love to help you!

Thank you for listening. Don’t forget to review and subscribe for future podcast episodes!

Our beautiful intro and outro piano music on The Mortgage Mum podcast was created and recorded by the incredible Zoe Alexandria – www.zoealexandria.co.uk.

If you would like to appear as a guest on The Mortgage Mum podcast please email sarah@themortgagemum.co.uk.

Thank you for listening. Don’t forget to review and subscribe for future podcast episodes!

Sarah Tucker, Managing Director of The Mortgage Mum