Employed and self-employed fixed term contractors

Due to the changing nature of the UK employment market we have tailored our acceptable contractor mortgage criteria to assist borrowers employed within the short term renewable contract arena.

Contractor applications are accepted from both first and second time buyers, subject to the following criteria being satisfied:

  • Maximum 85% loan to value;
  • Minimum two years employment or self-employed history;
  • Minimum 12 months 'contractor' employment history;
  • The existing contract must have a minimum of six months remaining at time of application or the 'employer' must confirm that the contract will be renewed for a further six months; and
  • Affordability will be calculated against the lower of the current contracted daily rate x 220 working days (excludes weekends and bank holidays) or as an average of the last 12 months gross income.
We provide a flexible approach to lending, why not give us a call 0121 521 4045* or email us and we'll call you back
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