Why Choose MyContractorBroker
We understand contractors…… we were founded by one and as such, we understand the difficulties contractors encounter.
We don’t believe you should be penalised for working in the way you do just because an underwriter doesn’t fully understand your set of circumstances. That’s why our founder has been working to educate lenders for the past 15 years.
We don’t believe you should be penalised for working in the way you do just because an underwriter doesn’t fully understand your set of circumstances. That’s why our founder has been working to educate lenders for the past 15 years.
The Problem
Lenders don’t really understand contractors and try to fit them into the standard employment boxes.
- Trading via an umbrella? – Lenders tend to treat you as temporary staff and sometime assume you are working under CIS. They will often request payslips and see holiday pay, bonuses, commissions, expenses and other non-standard income. These income types are often viewed as variable and can often get ignored when assessing your maximum borrowing.
- Running your own limited company? Lender often require anywhere from 1 to 3 years of company accounts and even then only use salary and dividends. Running your affairs tax-efficiently could mean a reduction in the level of borrowing available to you.
The Solution
MyContractorBroker has made it their mission to educate lenders on the contracting market. As a result, we now have bespoke contractor underwriting meaning:
- Borrowing based on your annualised daily/hourly rate
- Borrowing up to 5 times your income
- Deposits as low as 5%
- Option available from Day 1 on your contracting career.
The Process
- Quick Check – Use our interactive tool to see how much you could borrow
- Advice - Speak with a dedicated Contractor Mortgage Consultant
- Application – Let our expert client service managers take care of all the paperwork
- Protection – Let us review your current arrangements and provide a health check
- Completion – We will ensure all parties are chased to ensure your purchase or remortgage application completes as soon as possible.
- Refer – Now you’ve seen how it should be done, tell everyone you know
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
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
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
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