Contractor Remortgage

Is your current mortgage product coming to an end? Has your lender offered you a new product?

There are several reasons why you might want to consider remortgaging. Firstly, if your current deal is nearing its end, it is advisable to explore your options. Failing to switch to a new deal in a timely manner could result in being placed on your lender’s standard variable rate (SVR), which often leads to higher interest payments. Additionally, remortgaging allows you to access the increased value of your property by unlocking equity. This extra cash can be utilised for various purposes such as home renovations, investment in buy-to-let properties, or covering educational expenses. Furthermore, if you wish to make larger mortgage repayments than your current deal permits, switching to a deal without early repayment charges can bring you closer to a mortgage-free future.

If your mortgage product is coming to an end, it can be a real temptation to just accept a product from your current lender based on you experience when obtaining the mortgage first time round. My Contractor Broker are here to make sure you get the very best contractor remortgage rate available to you.

We offer a simple contractor remortgage process and great service. Our team have helped 1000’s of contractor’s remortgage and save money. Most lenders will even take care of all the legal work involved free of charge so what do you have to lose? Our specialist consultants are experts in helping contractors:

Why Use My Contractor Broker? Making the switch to a new mortgage as a contractor is much simpler than you may think. At My Contractor Broker, we have the ability to secure competitive rates for you based solely on your contract rate. These rates are offered by “contractor-friendly” High Street lenders, and they may even be available from your current lender, even if you have been unsuccessful in your attempts thus far.

How are we able to accomplish this? It is because we possess the expertise to present your contractor situation in a manner that accurately reflects your true affordability. No need for extensive documentation such as accounts, pay slips, or tax returns. Often the only evidence of income required is a copy of your current contract, which confirms your daily or hourly contract rate.

Equally important, we have direct access to underwriters – not branch staff – who possess the knowledge and expertise to accurately assess your worth. High Street branch advisers and non-contractor specialists may struggle to secure you as competitive a rate or access to as much funds as we can

You can start by using our Contractor Mortgage Calculator to see how much you could borrow or contact us here.

Who we work with

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

Simon Davies Manager

FAQs

Can I get a mortgage as a contractor?

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

Do I need to have been contracting for a specific period?

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

Can I get a contractor mortgage with no limited company accounts?

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.

Can I get a mortgage whilst working through an umbrella company?

What size deposit will I need?

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.

Will I pay a higher interest rate?

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.

I’ve had credit problems in the past, will this stop me getting a mortgage?

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.

Who provides contractor mortgages?

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.

Why should I choose My Contractor Broker?

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