Picture this: You’re a contractor or freelancer, your day rate is smashing it, and you’re living the dream of being your own boss. Life’s good, right? Until you decide to buy a house and discover that High Street mortgage lenders look at you like you’re trying to pay them in Monopoly money. 😅
Don’t worry—we’ve got your back! At Broadbench, we’ve been helping contractors secure mortgages since 2008. We know the ropes, the tricks of the trade, and most importantly, the lenders who get how contracting works.
Why Are Contractor Mortgages So Complicated?
Ah, the joys of being your own boss—freedom, flexibility, and… a pile of paperwork just to prove you’re financially stable. While you know your income is solid, traditional lenders often see peaks and troughs as red flags. But here’s the twist: we work with lenders who base your mortgage on your gross contract day rate, not your tax accounts. Game changer, right?
What Makes Broadbench Different?
We work with specialist teams who understand contracting income, whether you’re under a Limited Company or a PAYE Umbrella. Here’s how we make magic happen:
✅ Mortgages based on your day rate
✅ Tailored advice for first-time buyers, home movers, or buy-to-let investors
✅ Remortgages made simple
✅ 5-star Trustpilot-rated service
How Much Can You Borrow?
Grab your calculator and follow this simple math:
- Multiply your day rate by the number of days you work each week.
- Multiply that by up to 46 weeks (because even contractors deserve a holiday).
Voilà! That’s your estimated annual income. We’ll help you leverage this figure to find the right deal, even if you’ve had a few breaks between contracts.
Why Use a Specialist Broker?
Let’s face it: life’s too short to spend hours deciphering lender jargon or facing rejection after rejection. A specialist broker like Broadbench:
🔹 Connects you with niche lenders who understand contracting
🔹 Boosts your chances of approval with a watertight application
🔹 Protects your credit score by getting it right the first time
And if you’re buying with a partner who has a more predictable income, we can make that work in your favour, too!
6 Tips for Mortgage Success
Want to strengthen your application? Here’s how:
- Work on your credit score – Pay bills on time and check your report for errors.
- Keep contracts steady – Avoid long gaps between jobs before applying.
- Save up – A bigger deposit can unlock better deals.
- Get organised – Gather invoices, bank statements, and proof of your day rate.
- Plan ahead – Establish long-term contracts to show stability.
- Think small – Start with an affordable property and build up from there.
Ready to Own Your Home? Let’s Talk!
Navigating the mortgage maze as a contractor doesn’t have to feel like a full-time job. At Broadbench, we specialise in making your dream of homeownership a reality.
Complete our Speak To An Expert form to book an appointment to chat with one of our expert advisers. Let’s make your contractor status your superpower instead of a stumbling block.
Broadbench: Contractor mortgage experts since 2008.
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