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Moving Home

Looking to find something a little bigger, more outdoor space, better school catchment? At My Contractor Broker we specialise in assisting contractors like yourself with securing mortgages when moving home. We understand that moving home as a contractor can be a stressful experience, which is why we are here to help you find the perfect mortgage that suits your specific needs. Our team of Contractor Specialist mortgage brokers will guide you through the entire buying process, saving you valuable time and effort.

Many contractors encounter difficulties when approaching lenders for mortgage funding, often finding that underwriters do not really understand how they work and trying to assess them in a traditional manner. This is where working with a specialist mortgage broker like My Contractor Broker is essential.

High Street lenders typically rely on standard lending criteria to determine how much you can borrow. However, as a contractor drawing a low salary and restricting dividend payments for tax planning purposes, your “take home” income may not meet their requirements. This can limit the amount you are eligible to borrow for a home mover mortgage. Even if you have 2-3 years of accounts, they may not accurately reflect your full income. This is because many contractors working through limited companies draw a small salary and have limited dividends.

Click here to find out how much you can borrow

The payslips and P60s of contractors employed through Umbrella payment structures can also present challenges especially when income is broken down into bonus, overtime and commission.

My Contractor Broker has established strong relationships with senior underwriters from “high street” lenders. This allows us to ensure that these lenders fully understand your unique payment structure. We have negotiated bespoke contractor-based underwriting, which enables us to use your annualised contract amount as relevant earnings for lending purposes.

The advantage of working with us is that we can secure competitive mortgage rates from mainstream lenders who have embraced contract-based underwriting. These lenders base their mortgage offers on a multiple of your gross annual contract earnings, allowing you to borrow up to 4 to 5 times your gross annual earnings for a home move.

To get a rough estimate, you can enter your details in our contractor calculator.

We can help:
  • Contractors trading via a Ltd Company (even in your first year)
  • Contractors using an umbrella company
  • Day one contractors
Ways in which we can help:
  • Borrow based on your annualised day rate
  • Borrow up to 5 times your income
  • Deposits as low as 5%
Click here to find out how much you can borrow

Who we work with

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Testimonials

You can see our clients feedback what they say

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
testimonial

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
testimonial

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
testimonial

FAQs

Yes. We have access to bespoke contractor underwriting that will allow you to borrow based on contract value. Find out how much you can borrow here – Link to calculator
No. We have access to lenders that are happy to assist from Day 1 of your contracting career and assess borrowing based on your contract value, although each lender will have their own set of criteria that you will need to meet. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options
Yes. We have access to lenders that will be happy to assist without company accounts with borrowing based on your contract value. We can assist from Day 1 of your contract, although each lender will have their own set of criteria that you will need to meet. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options.
Yes. We have access to lenders that will be happy to assist without company accounts with borrowing based on your contract value. We can assist from Day 1 of your contract, although each lender will have their own set of criteria that you will need to meet. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options.
Deposits can start from as little as 5% but rates tend to improve the larger the deposit available. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options.
No, we have negotiated bespoke underwriting and processes not interest rates. We work with high street lenders to ensure you don’t get penalised for the way in which you work. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options.
Not necessarily, although it does become more difficult. One of our dedicated contractor specialist mortgage consultants will be able review your situation and advise you of any options that are available.
There are now more Highstreet lenders than ever prepared to accept a contractor mortgage application. These include well-known names such as Halifax, Barclays, Clydesdale, Virgin Money and Nationwide to name but a few. The exact lenders available to you will depend based on your personal circumstances. One of our dedicated contractor specialist mortgage consultants will be able guide you through the options.
Instead of us telling you all the reasons why, we thought we would leave it down to our clients

#get in touch

Ready to get started ?

Speak to a MyContractorBroker specialist on 02394 211122

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About Us

MyContractorBroker was formed by contractor for contractors. Our aim is to ensure Contractors are no longer penalised for the way in which they work.

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© Copyrights 2023. All rights reserved.

Your property may be repossessed if you do not keep up repayments on your mortgage. My Contractor Broker is a trading name of Harrier Consulting Southern Ltd which is authorised and regulated by the Financial Conduct Authority (FCA reg. 1003892). Registered in England No. 15040182. Registered Office: 5 Harrier Close, Waterlooville, Hampshire PO8 9BZ. Please be aware that Commercial Mortgages, Overseas Mortgages and some Buy To Let Mortgages are not regulated by the Financial Conduct Authority. Calls may be recorded for training and security purposes and to improve the quality of our services.

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