Can I get a mortgage with only 1 year of contracting?

Yes. Some lenders accept contractors with as little as 12 months' history, provided you have a current contract and can show continuity of work in your field.

Which is better — day rate or accounts-based lending?

Day rate lending usually gives a higher borrowing figure, but it depends on your contract and expenses. We assess both approaches and recommend the one that works best for you.

Does IR35 affect my mortgage application?

It can. Inside IR35, some lenders treat you like an employee. Outside IR35, day-rate assessments are more common. We find the best option based on your IR35 status.

Do I need to have my contract renewed to apply?

Not necessarily. Lenders typically want to see that you're currently working and have a reasonable track record of renewals or ongoing contracts in your field.

Contractor & Freelancer Mortgages

Expert mortgage advice for contractors, freelancers, and gig economy workers. We find lenders who assess your day rate or contract value — not just your SA302.

Why Is Getting a Mortgage as a Contractor Different?

Contractors and freelancers often earn well but struggle with mortgage applications because mainstream lenders want 2–3 years of accounts. Specialist lenders can assess you on your day rate or contract value, often allowing you to borrow significantly more. See our self-employed mortgage guide for detailed advice. If you work through an umbrella company, different rules may apply. We also recommend income protection insurance — essential for contractors with no employer sick pay — and life insurance to protect your mortgage.

Lenders who use day rate × days × weeks (not SA302 figures)
Options with just 1 year of contracting history
Limited company directors — salary + dividends accepted
IR35 inside and outside contract support
100% fee-free mortgage advice

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Day Rate vs Accounts-Based Lending

Some lenders calculate affordability using your day rate (e.g., £400/day × 5 days × 46 weeks = £92,000). Others use your tax returns, which often show a much lower figure due to expenses and tax planning. We find the approach that maximises your borrowing.

IR35 and Its Impact on Mortgages

Whether you're inside or outside IR35 affects how lenders view your income. Inside IR35, some lenders treat you similarly to an employee. Outside IR35, day-rate-based assessments typically offer higher borrowing. We navigate this complexity for you.

Limited Company Directors

If you run a limited company, your salary is likely low with dividends on top. We work with lenders who consider salary + dividends, retained profits, or your full contract value — not just what's on your payslip.