Mortgaes for contractors

Helping find the right mortgage for you

We specialise in offering tailored mortgage advice to contractors and work closely with lenders and product providers to ensure that you will have access to a comprehensive range of mortgage products for first charge mortgages only. One advantage is that we do not charge our clients a mortgage fee (we receive commission from mortgage lenders or insurance providers for arranging mortgage and protection requirements on your behalf). Many other mortgage brokers charge direct fees.

Lenders will not always lend to contractors or will base the amount that they are prepared to lend on an unrealistically low estimate of your potential income. Because we have expert knowledge of this market, we will be able to help you negotiate these challenges and secure the mortgage that is right for the property you want to buy.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

YOU MAY BE ABLE TO BORROW:

What is the daily rate of your current contract?

If you would like to know how much you might be able to borrow, then please use this calculator to help you. This will only provide a guide and the precise amount that you can borrow will vary from lender to lender, irrespective of your employment status. The amount that you can borrow will also depend on the following additional factors:

  • How much deposit you have available
  • Your income
  • Your financial commitments
  • Your credit rating

WHAT WE CAN DO FOR YOU

We will provide you with a personalised service to help you secure a mortgage that suits your needs. This is how Rothamsted Financial Services Ltd have always worked and it is how we have built our reputation. We will meet with you, discuss your circumstances and aspirations and then will use our expertise to find the right mortgage for you.

The products we offer allow you to obtain a mortgage based on your contract alone. Lenders use different ways to calculate how much you can borrow, with the majority using your personal tax figure. There are, however, a select group of lenders who will use your contracted daily pay rate. This will enable you to borrow more. Please refer to our mortgage calculator (below) to see what you may be able to borrow.

We know how busy you are so we will make the process as quick, easy and stress free as possible. We will be available to you not only in person but over the phone, by email or by post. Unlike most mortgage brokers we charge none of the usual broker fees. Lenders will pay us for the work we do in arranging your mortgage.

NOT ALL LENDERS WILL LEND MONEY TO CONTRACTORS

Mortgage providers are often extremely cautious when assessing the amount that they are willing to lend to contractors. They will sometimes ask for complex proofs of income which can be time consuming to collate or explain

Some will ask your accounts or numerous payslips. They will potentially underestimate your income, which may lead them to offer you a mortgage which will not be sufficient for your needs.

MORTGAGE DEALS MAY NOT BE AVAILABLE AND LENDING IS SUBJECT TO INDIVIDUAL CIRCUMSTANCES.

We will help you:

  • understand how much you can borrow
  • understand how much you will repay
  • by organising your mortgage on your behalf
  • if you are a first time buyer
  • re-mortgage
  • secure a buy-to-let mortgage if you are investing in property
  • undertake the increasingly popular self-build process
  • take advantage of the help to buy scheme
  • whatever your field of work or wherever you are working in the world