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Home Mover Mortgage

The easy way for those earning a day rate to make their next move

Secure your new place without the need for payslips and paperwork

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Seamless Home Moves Tailored to Your Unique Income Structure

At Broadbench, we specialise in making your next move stress-free with home mover mortgage options tailored for contractors, freelancers, and business owners. Whether you're looking to upsize, downsize, or relocate, we provide access to home mover mortgage deals that reflect your real financial picture—not just traditional payslips.

Challenges with Traditional Lenders

If you're looking for a mortgage when moving home, traditional lenders can make the process difficult. They typically require long-term employment and regular income, which creates barriers for:

  • Contractors Inside IR35: Often working through umbrella companies and facing restrictions due to perceived income instability.
  • Contractors Outside IR35: Operating personal service companies, often navigating irregular pay cycles.
  • Business Owners: Who may take income through dividends or profit shares—income that doesn't always reflect full earning capacity.
  • Sole Traders: Struggling with lenders who don’t recognise fluctuating income streams.

We support all these groups with tailored products including:

  • Home Mover Mortgage for Contractors
  • IR35 Contractor Mortgage
  • Umbrella Company Mortgage
  • Limited Company Contractor Mortgage
  • Business Owner Mortgage for Home Movers
  • Self-Employed Home Mover Mortgage
  • Day Rate Contractor Mortgage
  • Home Mover Mortgage for Sole Trader
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The Broadbench Approach

We partner with lenders who understand the complexity of modern income structures. Our approach includes:

  • Day Rate Calculations: Affordability is based on your contract day rate—not outdated annual salary metrics.
  • Flexible Documentation: We accept contracts, bank statements, and CVs in place of traditional income proof.
  • Understanding of Various Setups: From limited companies to umbrella company contractors, we cover it all.

Looking to remortgage on a new property? We can help there too—whether you're porting your existing mortgage or need a moving home remortgage, we have solutions.

Navigating IR35 and Umbrella Company Challenges

If you're affected by IR35 or work through an umbrella company, getting a contractor mortgage or Umbrella Company Mortgage can be tough. But not with us. Our lenders consider umbrella income valid and stable when assessed correctly. We specialise in IR35 Contractor Mortgages that reflect your true earning power.

Resources to Guide Your Home Buying Journey

Embarking on the path to homeownership involves more than just securing a mortgage. Explore our comprehensive guides to assist you at every step:

Ready to Make Your Move?

Whether you're seeking a home mover mortgage UK, a moving home remortgage, or simply the best deal as a limited company director, we’re here to help you succeed. Our expert advisers will match you with the right product, whether it’s through porting, switching, or arranging a new mortgage altogether.

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What do a need to get a home mover mortgage?

To apply, you'll need:

  • A deposit of at least 10% of the new property’s price
  • A copy of your contract showing your daily rate
  • 3 months’ bank statements
  • Funds to cover the deposit, solicitor’s fees, survey fees, and stamp duty
  • (Possibly) your latest CV
  • Proof of ID

What we offer

  • Access to a broad range of day-rate-friendly Home Mover Mortgage lenders
  • We handle all paperwork and communications
  • We liaise with solicitors and estate agents for a smooth process
  • We find the very best home mover mortgage deals for your situation
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Our Advice & Fees

We only offer advice on first-charge mortgages. We charge a flat fee of £500 for our services, this is split into two payments. When we issue your AIP (Agreement In Principle) we charge £100, then a further £400 is charged on application. This means that if your application stalls at the AIP stage you are only liable for the £100. If we charge you a fee, and your mortgage does not go ahead, this fee is non-refundable.

Your Rights

You may be able to claim compensation from the FSCS if we cannot meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim.

We can provide more specific information on request, but as a guide, eligible mortgage claims related to advising and arranging are covered for 100% of a claim up to a maximum limit of £85,000 per person per firm.

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FAQs

Why should I use a specialist Contractor broker?

By all means, go to a high street lender to satisfy your curiosity, but in most cases, the lender will have issues with how income reaches the contractor. High street lenders understand dividends, but business owners, professionals and contractors who are tax efficient and only draw down a minimum salary and dividends to meet their needs won’t look good. Specialist brokers like us go to the same lenders you see in the high street but at the head office underwriter level. This means they are speaking to people with a bigger lending mandate and a knowledge of this sector contractors, and they use the contract to define a contractor’s income.

Do I qualify to be assessed for a mortgage on contract value?

Lenders who specialise in mortgages for those earning a day rate typically assess the amount that can be borrowed on the annualised contract value. Each client is evaluated on the basis of their personal circumstances, generally, they can borrow a multiple of their annualised contract value.

However, they need to be in a contract at the time of the application and must be able to demonstrate continuity. A contractor applying with their first contract can get a mortgage as long as they have had continuity of employment before approaching the broker.

How long does the mortgage application process take?

This is where a contractor specialist financial adviser differs from most brokers. There is a two-stage process. The first stage is the pre-approval, and the second stage is the full application.

In stage one, the lender requests documents from the business owner, professional or contractor such as current and previously signed contracts, three months’ personal and business bank statements, ID and proof of address. The lender will also complete a hard credit search at the point of application. After reviewing all documents and credit score, the lender will approve or decline the application.

Stage two is the full application stage. If the application has been approved the valuation will then be instructed, and if the valuation is satisfactory, the mortgage will go to offer. In some examples, the mortgage loan amount may be reduced following an underwriting review or the mortgage can be declined. Your broker would then agree with you on how you wish to proceed.

I have a poor credit history – can you get me a mortgage?

Brokers do have options for contractors who have a poor credit history and need specialist contractor underwriting for their mortgage. They will need to present a relatively positive picture of the client’s current circumstances and as long as the credit issues are historic and there has not been an issue within the last two years, but can usually find an option.

There are lenders who don’t do credit scoring but just complete credit checks. Financial advisers like Broadbench, with unrestricted access to the market and who are not restricted to just a handful of lenders, should be able to find a solution. However, the contractor will pay a premium with an elevated interest rate as a result of their poor credit history.

If a contractor has any plans to buy a property or refinance it is important that they talk to a specialist contractor financial adviser as early as possible, even if their plans are 12 months away.

That way the broker can find out early if there are any challenges and we can overcome them in plenty of time for the contractor to secure their mortgage when they need it.

What evidence do you need of my contracting income?

It depends on the lender; however, most will ask for your current contract, your previous contract (if applicable), a contract extension (if you have less than 3 months remaining on your contract) and 3 months of business bank statements.

How do the lenders calculate my income?

The lenders take your day rate or hourly rate and times this by how many days/hours a week you work and times that by 46 or 48 weeks a year (lender dependent). This is then deemed your annual salary.

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