If you are a contractor, freelancer or business owner, you already know the drill. You apply for a mortgage, and suddenly the high street lenders treat your income like a complex puzzle.
Some mainstream lenders ask for several years of accounts, may not fully recognise retained profit, or assess only salary and dividends rather than looking at the wider picture. That can narrow the options shown unless the application is matched to suitable lender criteria.
But it does not have to be that way.
Bank Rate was held at 3.75 per cent in July 2026 [1], while UK Finance expects 1.8 million fixed rate mortgages to end this year [2]. If yours is one of them, three months before the end date is a sensible point to start checking your paperwork and comparing the available routes.
At Broadbench, we specialise in non-standard income. Different lenders assess contractors in different ways; depending on their criteria, this may include annualised contract value, salary and dividends, or company income. All applications remain subject to affordability, evidence and lender criteria.
Here is our three month remortgage readiness checklist to help you organise the information a lender or broker may need.
Three months out: Check your dates and options
If your current deal ends within the next three months, you can start investigating your options and look to reserve an offer. Reservation periods, fees, early repayment charges and cancellation terms vary, so check the conditions carefully.
- Locate your exact end date: Check your original mortgage offer or your lender’s online portal to find the exact date your fixed or discounted rate expires.
- Understand the follow-on rate: If you do nothing, you will usually move onto the reversion rate (SVR) set out by your lender. Compare the projected payment and terms with the alternatives available to you.
- Get in early: A specialist broker like Broadbench can assist you to lock in a deal sooner rather than later; this negates any risk of you inadvertently being switched to a standard variable rate by your lender. And the good news is that if a better deal becomes available before the start date, your Broadbench adviser will automatically switch you to the better deal. It’s a win-win. This is especially important when rates are inconsistent.
Gather your contractor evidence
Contractor income can be assessed differently from a predictable PAYE salary. Presenting clear, current evidence helps a broker identify lenders whose criteria fit your circumstances.
- Current contract: Ensure your current contract is signed, dated and clearly states your day rate or project value.
- Track record: Lenders may ask for evidence of contracting history and continuity, but the period required varies. If you have taken a break between contracts, be prepared to explain it.
- Business accounts: If you operate through a limited company, have your latest finalised accounts ready. A specialist broker can help you find lenders who will consider your retained profits alongside your salary and dividends.
Speak to a specialist broker
Do not rely on a product transfer without comparing it with the wider options available to you.
- Review your whole financial picture: A remortgage is the perfect time to review your protection. If you have taken on a larger mortgage or your business structure has changed, your life insurance and income protection may need updating.
- Let us do the detailed work: At Broadbench, we assess the market and help identify a suitable route for your income and circumstances, subject to affordability and lender criteria.
Ready to understand your mortgage options? Book your review today.
References
[1] Bank of England, Interest rates and Bank Rate, latest decision
[2] UK Finance, Mortgage Market Forecasts
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