Contractor First Time Buyer
At My Contractor Broker we understand that purchasing your first home as an independent contractor can be a daunting task, especially when mainstream lenders often make it challenging for professionals like yourself. However, we have a solution that can make the process easier.
We have built relationships with many high-street lenders that are prepared to assess your income on your contract rate alone to help you get onto the property ladder, even if you are a first-time home buyer.
We acknowledge that every step of the home-buying process can be stressful, particularly for those who are new to homeownership. As a contractor, you face additional challenges beyond surveys, solicitors, and estate agents. Most mortgage lenders struggle to comprehend your unique circumstances and payment structures and historically have been more cautious when underwriting contractors looking to buy their first homes.
As a contractor you need the assistance of an experienced specialist contractor broker to navigate the process of buying a home. That’s where we come in. My Contract Broker was formed exclusively for contractors. Our consultants have helped 1000’s of contractors purchase their first homes.
Our expertise as an FCA-accredited specialist contractor mortgage broker allows us to understand the various ways in which contractors work, including limited companies, personal service companies, and umbrella companies. Understanding how you work is crucial in securing competitive first-time buyer contractor mortgages.
Our close relationship with underwriters often enables us to obtain exclusive terms that we can pass on to you. We can secure your first mortgage based on your true affordability, using your gross contract earnings as a basis. This is particularly beneficial if you have recently started contracting, have less than three years of accounts or you umbrella payslips include income from commission, overtime, or bonuses.
Even if you have been told it’s not possible we can help:
- Contractors trading via a Ltd Company (even in your first year)
- Contractors using an umbrella company
- Day one contractors
- Gaps in contracting history
- Deposits as low as 5%
To get started, simply use our contractor mortgage calculator or contact us here.
Our specialist contractor mortgage consultants are ready to walk you through the entire process.
Please feel free to call us on 02394 211122 or request a callback.
Who we work with
Testimonials
I needed a mortgage quickly as I had been let down by a well known high street bank. Andy worked extremely quickly in sorting out a new mortgage offer for me, and even found a lender that took my day rate into account, meaning I could borrow more than I thought I could. The process to get Andy all of the documents he needed was painless and within a few days I had the offer from the bank. Would definitely recommend to anyone looking for a new mortgage or remortgaging.”
Simon Davies
I needed a mortgage quickly as I had been let down by a well known high street bank. Andy worked extremely quickly in sorting out a new mortgage offer for me, and even found a lender that took my day rate into account, meaning I could borrow more than I thought I could. The process to get Andy all of the documents he needed was painless and within a few days I had the offer from the bank. Would definitely recommend to anyone looking for a new mortgage or remortgaging.”
Simon Davies FAQs
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Speak to a MyContractorBroker specialist on 02394 211122
I needed a mortgage quickly as I had been let down by a well known high street bank. Andy worked extremely quickly in sorting out a new mortgage offer for me, and even found a lender that took my day rate into account, meaning I could borrow more than I thought I could. The process to get Andy all of the documents he needed was painless and within a few days I had the offer from the bank. Would definitely recommend to anyone looking for a new mortgage or remortgaging.”
Simon Davies Manager