Which UK lenders are best for contractors and professionals?

Halifax, Clydesdale, Kensington, Precise, Vida, Skipton and Coventry for Intermediaries operate the most contractor- and professional-friendly policies. Halifax and Clydesdale price day-rate and professional cases near mainstream levels; Kensington, Precise and Vida handle one-year accounts and light adverse.

How is contractor income assessed for a mortgage?

Day-rate contractors are usually assessed as day rate × 5 × 46 weeks, giving an annualised figure without needing two years of accounts. CIS subcontractors are assessed on gross vouchers as employed income. Directors can be assessed on salary plus dividends or salary plus retained profit, depending on lender.

Do professionals get better mortgage terms?

Yes. Professional schemes from Halifax, Clydesdale and Scottish Widows Bank lend up to 5.5–6× income and accept newly-qualified or contract-based income for doctors, dentists, and other regulated professions.

Can I get a mortgage with one year of self-employed accounts?

Yes — Kensington, Precise, Vida, Together and Clydesdale lend on one year of SA302s or company accounts at up to 90% LTV, with pricing from around 4.54% in 2026.

Subcontractor mortgages

Trades income, read the way it's earned.

One year of accounts, rolling contracts and seasonal gaps all lendable — up to 4.75× income and 95% LTV.

AI summary

Subcontractor mortgages are UK residential mortgages for self-employed workers in construction and the trades — bricklayers, electricians, plumbers, groundworkers and site-based specialists. Lenders assess either net profit from SA302s (latest year, or two-year average where income is falling) or, on rolling day-rate contracts, day rate × 5 × 46 weeks. Kensington, Precise, Vida, Together and Halifax accept one year of trading history, lend up to 4.75× income and reach 95% LTV, with 5-year fixes from 4.54% in 2026. Short contract gaps of up to 6–8 weeks a year are standard policy, not a decline.

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Key facts

The numbers, at a glance.

Min trading history

1 year

Max LTV

95%

Max income multiple

4.75×

Rates from

4.54%

Eligibility & documents

What lenders want to see.

Who typically qualifies

Sole trader, partnership or CIS-registered subcontractor
12+ months' trading history (2 years widens pricing)
Day-rate contracts with at least 6 months remaining or a renewal history
Deposit from 5% — savings, gift or equity
Light adverse considered (defaults, CCJs) with specialist lenders

Documents to prepare

Last 1–2 years' SA302s and tax year overviews
Accountant's certificate or finalised accounts
Latest 3 months' business and personal bank statements
Current and previous contracts or invoices showing continuity
Proof of deposit and ID with 3-year address history

Why us

How Elena helps, specifically.

One year is enough

No waiting for a second set of accounts to get on the ladder.

Day-rate assessment

Rolling contracts annualised at day rate × 5 × 46 weeks.

Latest-year income used

Growing profits counted in full instead of averaged down.

Gaps accepted

Seasonal and between-contract breaks explained properly to underwriters.

Trades-aware packaging

Invoices, vouchers and contracts presented in the format each lender wants.

AI-matched

Elena screens 90+ lenders' self-employed policy against your exact profile.

What Elena recommends

Top lender matches for this profile

Best match

Halifax

5yr Fix · 90% LTV

4.54%

representative rate

Match score93%

"Best mainstream pricing where you have two years of SA302s and clean credit."

Kensington

Select 5yr Fix · 90% LTV

4.89%

representative rate

Match score89%

"One year of accounts plus day-rate assessment on rolling contracts."

Precise

Tier 1 5yr Fix · 85% LTV

5.19%

representative rate

Match score83%

"Accepts light adverse alongside a single year of trading history."

FAQ

Questions, answered.

Can't find your answer?

Elena, our AI mortgage expert, can answer it in seconds — or book you a free callback with a human broker.

Can a self-employed subcontractor get a mortgage?

Yes. Subcontractors in construction and trades can borrow up to 4.75× income at 90–95% LTV with Halifax, Kensington, Precise, Vida and Together. Lenders use either one to two years of SA302s and tax year overviews, or — for CIS workers — recent payslips and vouchers treated as employed income.

How is subcontractor income calculated?

Sole traders: net profit from the latest year, or the average of the last two if declining. Where the latest year is higher, most specialist lenders use the latest year alone. Day-rate subcontractors on rolling contracts can be assessed as day rate × 5 × 46 weeks by Halifax, Kensington and Clydesdale.

Do I need two years of accounts as a subcontractor?

No. Kensington, Precise, Vida and Together lend on one year of accounts. A minimum 12-month trading history plus a projection or accountant's reference is typically enough at up to 85–90% LTV.

Do gaps between contracts stop me getting a mortgage?

Short gaps are normal in the trades and accepted. Most lenders allow gaps of up to 6–8 weeks in the last 12 months; longer breaks need an explanation and are viewed alongside continuity of work with the same contractors.

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