Mortgages priced on your day-rate.
Day-rate × 5 × 46 weeks — no need for 2 years of accounts. Halifax, Kensington and Clydesdale accept IT, engineering and IR35 contractors.
Contractor mortgages are UK residential mortgages where borrowing is calculated on the contractor's daily rate instead of payslips or full trading accounts. Specialist lenders — Halifax, Kensington, Clydesdale, Nationwide, Metro Bank — annualise day-rate as day-rate × 5 × 46 weeks and apply a 4.5–5× income multiple. A £500/day contractor is assessed as earning £115,000 and can borrow up to £575,000 subject to deposit and credit.
The numbers, at a glance.
What lenders want to see.
Who typically qualifies
- IT, engineering, finance and consultancy day-rate contractors
- Ltd company / PSC contractors (outside IR35)
- Umbrella company contractors (inside IR35)
- 12+ months of contracting history (or 3 months with 2+ years prior employment)
- Current contract with 6+ weeks remaining, or renewal history
Documents to prepare
- Current and previous contracts (or umbrella payslips)
- 12 months of business or personal bank statements
- CV / LinkedIn profile confirming contracting history
- SA302 tax overviews (if applicable)
- Passport / driving licence and 3-year address history
How Elena helps, specifically.
Day-rate assessment
Annualised as day-rate × 5 × 46 weeks — not filed accounts.
5× income multiple
Kensington and Halifax stretch to 5× annualised day-rate income.
IR35-aware lending
Inside and outside IR35 both accepted, matched to the right lender.
5% deposit possible
95% LTV via the UK Mortgage Guarantee Scheme for eligible contractors.
New-contractor friendly
3 months contracting with 2+ years prior employment accepted.
AI-matched
Elena screens 12+ contractor-friendly lenders in under 60 seconds.
Top lender matches for this profile
"Assesses day-rate × 5 × 46 — no need for filed accounts."
"5× income multiple on annualised day-rate, IR35-agnostic."
"Accepts 6 weeks minimum contract remaining and clean 12-month history."
Questions, answered.
Elena, our AI mortgage expert, can answer it in seconds — or book you a free callback with a human broker.
How do contractor mortgages work in the UK?
How long do I need to have been contracting?
Can IT / tech contractors on inside-IR35 contracts get a mortgage?
What deposit do I need as a contractor?
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