Self Certification Mortgages

If you’re looking for a self certification mortgage, there’s bad news for you, as they have been banned in the UK. There is however the option to use an overseas lender, as self certification mortgages are not banned in Europe. The Financial Conduct Authority (FCA) has however issued a warning for why you should be careful when using an overseas lender.

If you are self-employed, it’s good to know that there are other mortgage options out there besides self certification. Contact us at iam mortgages today where our experts can talk you through your options depending on your circumstances.

What is a self certification mortgage?

A self certification mortgage lets you tell a potential lender how much you earn, without the need for supporting documents or records of accounts that prove you earn as much as you say you do. The lender literally takes your word for it. This type of mortgage is designed for those who cannot prove their income, such as self-employed people, those on low incomes or those who earn most of their salary through commission. A self certification mortgage is therefore well suited to those on salaries that can fluctuate from month to month.

Why have self certification mortgages been banned in the UK?

Previously, due to the lack of evidence that borrowers had to give to lenders, many people were able to abuse the system and take out huge mortgages that they couldn’t realistically afford to pay back. New rules are now in place from the FCA, in which lenders now have to ensure that all borrowers can pay back any money loaned to them through a mortgage deal. This is why lenders are far more cautious and demand more evidence from borrowers in terms of proof of income such as accounts, payslips and bank statements.

Self certification mortgages and European lenders

It is possible to obtain a self certification mortgage from a European lender, as this type of mortgage is still allowed in Europe, where lenders have less strict criteria. It can however be difficult to find a lender, as some companies can only take a set number of applications at a time to ensure that they get their money back.

There are several things to bear in mind if you are considering taking out a self certification mortgage with a European lender. A major issue is that you could lose your home more easily and quickly if you do not keep up with repayments. This is because your mortgage would not be regulated by the FCA, and you will not have legal rights such as being able to complain to the Financial Ombudsman, request help from the FCA, or request compensation from a lender which sold you a mortgage you couldn’t realistically afford. The FCA has advised UK borrowers of these risks and the lack of protection associated with taking out a self certification mortgage from a European lender.

What should I do if I decide to get a self certification mortgage?

If you would still like to go ahead and pursue a self certification mortgage with a European lender, the FCA advises that you take the following steps:

  • Speak to a mortgage advisor based in the UK, who can help you conduct a risk-assessment. They will also help you to determine whether the lender is regulated by an official body.
  • Read the terms and conditions of the mortgage very carefully to ensure you understand the level of protection you have when taking out the loan.
  • Find out how the mortgage lender deals with missed repayments and problems you may have with meeting repayments.
  • Find out the fees that are charged by the lender.

If you are self-employed and would like more information on other mortgage options that are a great fit for your employment status, talk to us at iam mortgages today. Our team of helpful experts can talk you through your options so that you can find the right deal for your circumstances. Our advice is completely free – just fill in an enquiry form or drop us a line.

Mortgages With 2 Years’ Accounts

What mortgage lenders accept 2 years’ accounts?

Many self-employed people contact us about this question. It is true that you may be considered by some high street lenders for a mortgage, even if you only have 2 years’ accounts, but this is rare. Bear in mind that many lenders prefer you to have at least 3 years’ worth of accounts for additional security on their part. Specialist lenders for people who are self-employed will generally offer mortgages to people with good credit scores and 2 years’ worth of accounts that prove their business is successful.

Contacting a specialist self-employed lender

It is advisable to contact a mortgage advisor, such as one of our experts at iam mortgages, to approach a specialist lender for a self-employed mortgage with 2 years’ of accounts. This ensures that your mortgage application is placed in the hands of the right lender to suit your personal circumstances. The advisor will also be able to check the lender’s criteria carefully for you to make sure you are a right fit. If you are not suited to a lender, a mortgage advisor will find another lender for you by searching the market to find one that will accept an application for a self-employed mortgage with 2 years’ of accounts.

Providing proof of income

When making an application for a self-employed mortgage with 2 years’ of accounts, it is important that you provide the lender with the right documentation to support your application, such as bank statements, expenses statements, self assessment tax returns and so on. If you have an accountant, this can prove very helpful, as they will help you to organise your documents correctly so that you have more chance of successfully proving to a lender that you are not a ‘risky’ borrower. As a checklist, you will need:

  • 2 years’ of accounts
  • Your SA302 documents from HMRC
  • Personal bank statements
  • Bank statements from your business, detailing income and expenses

Many lenders are now being more flexible with mortgage offers, and are giving deals to self-employed people with just 2 years’ of accounts to show their trading operations. If you have recently started a business within the last 2 years and need help finding a mortgage that suits your financial and personal circumstances, we can help at iam mortgages.

Our mortgage experts can search the market to find you the right lender that suits your needs and offers a good deal, even with limited records of accounts. Contact our helpful team today by giving us a call or filling in an enquiry form.

Self-Employed Mortgages

After the financial crisis of 2007-2008, it has become more difficult for self-employed people to get a mortgage deal, as lenders are generally exercising more caution with who they offer mortgages to. That said, although it may be more difficult to secure a mortgage as a self-employed person, it is by no means impossible if you are properly prepared and can assure the lender that you are not a high risk borrower.

Before the financial crisis of 2007-2008, those who were self-employed could apply for a ‘self-certification mortgage’. With this type of mortgage, it wasn’t necessary for the borrower to prove their income using statements from their bank account or payslips. Few checks were made on this type of mortgage, and a self-employed person could simply tell a lender how much they earned, and could potentially give inaccurate, larger numbers if desired to secure a larger sum of money.
Nowadays, self-certification mortgages are non-existent and have been banned in the UK due to previous abuse of the system. Unfortunately, this history has made it more difficult for self-employed people to secure a mortgage in the present time.

How to get a self-employed mortgage

To successfully get a self-employed mortgage you need to prove to a mortgage lender that your income is stable enough to afford the regular repayments. Many lenders will want to view at least three years’ worth of your accounts and tax returns. The more evidence you can give them that your self-employed status is strong and a low-risk, the better. Here is a checklist you should give to a lender when applying for a self-employed mortgage:

  • Three years’ worth of accounts and tax returns
  • Evidence/contracts/emails that prove you have regular, ongoing and stable work
  • A deposit of at least 10%
  • A good credit rating

A lender will calculate how much they could lend you based on the above and your average profit over the last few years. It always helps if you can provide a lender with documents and accounts that have been carefully compiled by a certified or chartered accountant. If you have slumps in income, you will need to explain to a lender exactly why this happened. If fluctuations are clearly explained with evidence, there is no reason why a mortgage lender should dismiss your application.

If you are new to being self-employed and you don’t have three years’ worth of accounts, you may still be considered by a lender if you can demonstrate to them that you have plenty of work lined up and renewable or ongoing contracts. If you already have a mortgage and want to remortgage, it may be worth approaching your current lender, as you may have more success in securing a better deal with them (given your repayment history) than seeking a new deal from a different lender who doesn’t have these details.

If you have a large deposit to put down on a property and you are self-employed, this will greatly increase your chances of securing a deal with a lender, as they will favour offering you a smaller amount of money as a decreased ‘risk’.

It goes without saying that a positive credit history will also make it more likely for you to secure a self-employed mortgage. A lender will check your personal credit rating as well as a check on your business, so make sure that your debts and credit cards are paid off, and that you obtain a free credit score report so that you can take action to improve your score before applying for a mortgage.

Business infrastructure and self-employed mortgages

Did you know that the way your business is set up can affect your mortgage application? The structure of your business will play a role in how a lender assesses you.

Sole traders

If you are a sole trader, you only work for yourself and have no other employees or members of staff working for you. You keep all the profits associated with your business and do your own self-assessment tax form, which is what a lender will want to see in finer detail. If you have an SA302 form from HMRC that reveals the overall income you earned and tax due in a year, it is likely your lender will want to see this.

Partnerships

If you are in business with a partner, a lender will look at the percentage of the company that you own. You will need to show a lender accounts that reveal exactly how much profit you have made so that your annual income can be clearly determined.

Limited Companies

A limited company will have multiple employees and a director that receives a salary alongside dividend income. The lender will need to assess both of these aspects of your income before making a decision on your self-employed mortgage application.

Proving your income

You may find it difficult to prove your income if you have an accountant that you are using to (legally) reduce the amount of tax you pay by reducing your taxable income. Mortgage lenders prefer borrowers to have the biggest income possible, so we advise that you contact your accountant before applying for a self-employed mortgage. Company directors may also find it more challenging to secure a mortgage deal, as retaining profits within a business can be considered by some lenders as a criteria to lend or not lend a person money.


Whatever your business and personal circumstances, if you’re looking for a self-employed mortgage, we can compare the market for you to find the best lender for your needs. Talk to us today about your business and mortgage requirements – our advice is impartial and completely free. Simply call or fill in our online enquiry form.

Mortgages with 1 Years’ Accounts

The challenges of securing a self-employed mortgage

If you’ve only been self-employed for a year and have just 1 years’ worth of accounts, it can be tricky to secure a mortgage deal. This is mainly because a lender might not be able to determine how much you actually earn, making you a financial ‘risk’ to them, as there is a degree of uncertainty regarding whether or not you can afford to pay back what you have borrowed.

Most lenders prefer to only give mortgages to those that have been successfully self-employed for three years or more, and without the option of self certification mortgages where you can declare what you earn without any proof, it can be tough for those starting out in the world of business.

However, with the number of entrepreneurs and start-up businesses on the increase, many lenders are becoming more flexible with who they loan money to, and some even specialise in mortgages for self-employed people and directors – even if you’re only just starting out and have been trading for nine months to a year. It is possible to secure a mortgage deal with just 1 year’s worth of accounts or less, but these deals are normally quite rare, and only available through a small number of particular lenders.

It also doesn’t matter what industry you work in – lenders will consider self-employed people with various types of career. Whether you are setting up a limited company or a sole trader working from home, there is a mortgage deal to be found.

How much can I borrow on a mortgage if I only have 1 year’s worth of accounts?

Depending on your credit score, if you are self-employed, you can borrow as much as a full-time permanent employee, which can be anywhere between 3 and 5 times’ your annual income. In some circumstances, you can give a lender projections for how much you will earn in future. For instance, if you have only been trading for 6 months, you could offer projections for the next year. However, a lender may also request a qualified accountant’s projection of your earnings for greater security and clarity.

How do I prove my income with just 1 year’s accounts?

In all likelihood, if a mortgage lender will accept just 1 year’s worth of accounts, they will need these accounts to be provided by a qualified or chartered accountant, who can also provide detailed self assessment tax returns (SA302) regarding your income. If you are a sole trader, or working with a partner, your application is assessed based on the ‘total income received’ figure on a self-assessment tax return. If you are a director of a company, your income and application will be assessed by the dividends and salary received on your accounts and bank statements.

Who can get a mortgage with 1 year’s accounts?

Lenders will potentially offer a mortgage deal to sole traders, limited company directors and contractors who have been trading between 9 and 12 months. It is also possible to secure such a mortgage deal even if you have a poor credit rating, although your interest rates might be high. If you are purchasing a property through Help to Buy, you will also be considered, but will need to put down at least 5% deposit to secure a 95% mortgage.

Can I get a mortgage if I have less than 1 year’s accounts?

If you have not yet completed a tax return for your first year of trading since becoming self-employed and starting a business, it is very unlikely that you will be considered for a mortgage. There are a few lenders out there that will consider applications with only 9 months’ worth of figures, but being accepted is very rare. Lenders generally only let borrowers take out mortgages after proof is submitted to them that indicates the loaned money can be paid back. If, however, you are coming up to obtaining your first year’s worth of figures, it is advisable to get an agreement in principle so that you can make a formal application when the time comes, as an agreement in principle generally lasts for up to three months.

Can I get a mortgage with 1 year’s worth of accounts, even if my credit rating is poor?

There may be restrictions on the type of mortgage you can take out if your credit rating is poor and you only have 1 year’s worth of accounts for the company you have set up. A lender will also ask for you to have a higher deposit, as you will be considered a greater ‘risk’ to them due to your credit history. They may ask for 15 or even 20%. Typically, most lenders prefer borrowers to have had no defaults, missed payments on a mortgage, debts or CCJ’s within the last two years.


If you have recently turned self employed and/or started a new business with between 9 and 12 months of accounts, contact us today at iam mortgages where we can help to put you in touch with the right lenders offering mortgage deals that suit your circumstances. There’s no charge – our advice is completely free and impartial. Give us a call or fill in our easy contact form.

Mortgages for Limited Companies

If you are the owner of a limited company and need a mortgage because you want to buy a property within your company, it is most likely that you will be interested in applying for a buy-to-let mortgage. Many people choose to buy a property within a company because of the savings on tax. To qualify for a limited company buy-to-let mortgage, you’ll need to meet certain criteria which will depend on the type of limited company you have, as well as the number of directors and shareholders.

Why take out a mortgage through a limited company?

Many investors choose to secure a mortgage through a limited company because of the tax benefits. Because there are no limits on how long your company has been trading for, you can set up a company online at any time, and quickly apply for a mortgage as soon as or before it has been set up. As the director of the company, the lender will quickly assess your job, income and credit history the way they would with a standard residential mortgage that was in your name rather than a company. You will pay a more favourable rate of tax by purchasing a property through a limited company (known as a tax wrapper), but should be aware that as director, you will be responsible for monthly repayments should the company go bust or suffer major losses.

Trading and SPV companies

Both trading and SPV companies are limited companies. A trading company has one main primary form of trading alongside the owning of property. For example, you could have an IT company dealing with all-things IT, which also owns residential property. An SPV (Special Purpose Vehicle) company is a company that is purely set up for holding a house. For instance, you could set up a limited company in your name that doesn’t do anything or have any business activities, but holds a property with expenses going out and rent coming in. An SPV can hold more than one property in a portfolio.

Limited companies and mortgages

If a trading company has the desire to purchase a property with a mortgage, a lender will need to examine the company’s performance and success. You’ll need to provide evidence of accounts, outgoings, expenses and future projections, as well as current profit. A lender will need to be assured that the company is making money and that it will not go bust or be unable to keep up with mortgage payments.

If you have an SPV company, you do not need to provide any of this – all you will have is the property that you intend to purchase. However, from a lender’s point of view, there is the issue that the company doesn’t do anything or make any money.

In both instances, a lender will need a personal guarantee from a company director. This means that if the company is unable to meet repayments on the mortgage, a lender can claim arrears from the director themselves, and they will be required to pay the outstanding sum. Essentially, if the company holding the mortgage fails, the director will be personally responsible. This is especially the case with an SPV company, because the company doesn’t make any money to pay the mortgage in the first place.

Criteria for limited company mortgages

It is not true that a company needs to have been trading for a particular number of years to secure a mortgage deal. If you set up an SPV, you can apply for a mortgage the very next day (and even before the company officially exists at all).

Points to consider when taking out mortgages for limited companies

  • The lender is likely to charge a greater arrangement fee to set up your mortgage, as they will need to look into both your credit history and accounts, and that of your company, meaning that more work is involved on their part.
  • Your solicitor may charge greater fees as they will need to do extra work regarding the company’s articles of association. You’ll also need to have legal advice regarding the guarantee you’ll need to make as a director for the mortgage, and a solicitor who can witness you signing the agreement to ensure you understand what you are committing to.
  • Many lenders are going down this route because of the tax benefits, but you should weigh up the higher fees involved in setting up your mortgage.

If you’re thinking of taking out a mortgage through a limited company, we can put you in touch with lenders who will consider your circumstances. Get in touch with our team of experts at iam mortgages today for free and impartial advice by calling us or submitting an online enquiry form.

Mortgages for Gas Engineers

If you are an oil or gas network engineer, you’ll be working in highly technical and sometimes dangerous surroundings. Because of the health and safety implications that are linked to your job, you may find that many high street lenders will not consider you for a mortgage because of the dangerous nature of your work. There are safety risks in what you do for a living, especially if you are a pipeline engineer and can be based offshore for several months at a time. A lender needs to be sure that as a borrower, you can meet your monthly repayments.

Your pay structure could also be unfavourable to a lender if you are a contractor. If so, you’ll not be on a steady salary like someone in full-time employment, and could possibly be on a daily or hourly rate, making it difficult to prove a regular, steady income that could easily meet mortgage repayments.

Many oil and gas contractors seek advice from mortgage specialists (such as iam mortgages), who can advise on special mortgage deals for their needs. Some also consult underwriters directly to explain their circumstances in more detail. If you decide to contact an underwriter, they will assess your mortgage application based on your gross contract rate.

Many lenders prefer to receive applications from oil and gas engineers and contractors through specialist brokers who can highlight key points that enable them to make a decision on an application (and give some indication of how much a contractor can borrow).

Another issue gas engineers face is that their contracts can be very brief, meaning either fluctuations in pay or periods with no income until a new contract starts. This can be high risk for lenders, so you may have to pay a higher interest rate when securing a mortgage deal.


If you are a gas engineer working as a contractor and would like to apply for a mortgage, get in touch and tell us more about your circumstances at iam mortgages. Our team of experts can help you find specialist lenders that will consider your application carefully and secure a mortgage deal that suits your needs.

Mortgages for Electricians

Full time sole trader/self-employed electricians

If you are a full-time sole trader electrician, like many others who are self-employed, you will need to provide at least three years’ worth of accounts when applying for a mortgage. This is because you will need to provide a lender with assurance that you can meet the monthly repayments of your mortgage through evidence such as accounts, tax returns, bank statements and payslips that show your business is thriving. If you don’t want to handle the paperwork, hire an accountant to do this for you. You’ll also need to give a lender a self assessment tax year overview and your SA302 papers.

If a lender believes that you can afford to pay back the mortgage, you’ll need to put down a deposit on the property you intend to purchase. This will need to be at least 10%, and the more you can put down as a deposit, the better the deal you will secure. Depending on a number of factors such as your credit score and accounts, a lender can offer you between three and fives times’ your income.

Full-time, freelance and contracted electricians

If you are an electrician working full-time as an employee of another company and pay tax through PAYE, but also do contracted work to make extra money on a freelance basis, this will not affect your chances of getting a mortgage. If you do freelance work on weekends, a lender may actually add these earnings on to the amount you currently earn with your employer through PAYE, and use this to estimate your annual income. Others may just simply assess your mortgage application based on the work you do with your permanent full-time employer. Bear in mind that you might find it hard to secure a mortgage deal if you are heavily reliant on your self-employed extra earnings because your full-time job on PAYE doesn’t earn much. In the eyes of a lender, this could be seen as a greater risk, because it could be difficult for you to meet repayments.

It is possible to influence a lender if you can prove that you have saved up your additional freelance earnings to build up a cash deposit to put down on a property. If you have a larger deposit, you stand a better chance of securing a good mortgage deal with a lower rate of interest.


If you are an electrician and would like more information and advice on the right kind of mortgage deal for your circumstances, get in touch with our experts at iam mortgages today where we can search the market for you to find a lender that meets your needs.

Company Director Mortgages

Getting a mortgage as a company director

If you are the director of a limited company, a lender will assess your income based on the monthly salary that you draw from your business. The lender will consider this salary alongside dividends, shares and bonuses when making an estimation of how much you could potentially borrow and afford to pay back.

It is common for a director to take a base salary up to the tax-free threshold and to then draw dividends for any additional income. If you operate a limited company, much of your profit will therefore be left in your business due to future business expansion plans and so on. Leaving more profit in your company also means paying less tax. Unfortunately though, taking a small salary on paper means that it becomes difficult to secure a mortgage based on what you earn. For instance, if your business made £100,000 profit in a year but you only took £12,000 per year as a salary, a high street lender will typically assess your application for a mortgage based on your annual salary rather than the profits made by your business.

I have retained profit in a limited company – can I still get a mortgage?

Yes, you can still get a mortgage, but it is most likely that this mortgage deal will be from a specialist lender for company directors rather than a high street institution. Specialist lenders will consider all profits retained in a business, and could offer you between three or five times more than your business profits in terms of borrowing potential. Although this will depend on things like your credit rating, whether you have other mortgages and how well you make your repayments, and the deposit amount you put down on a property.

Proof of income for a company director mortgage

Lenders will ask for the following documents when you apply for a company director mortgage:

  • SA302 self-assessment documents (from HMRC)
  • Accounts covering all expenses, profits and tax paid – these can be from yourself or a chartered accountant
  • At least 3 months’ worth of bank statements for both your business and personal accounts

I’m a company director with a poor credit rating – can I still get a mortgage?

If you have a bad credit rating, as a company director you may find that the number of lenders available to you is even more limited. A lender will need to assess how much of a ‘risk’ you are to them depending on the severity of your poor credit situation. If you are considered a great risk and your application is declined, you may need to consult a broker who specialises in mortgages for those with bad credit.

My company has made a loss – will my mortgage application be declined?

If your company has unfortunately suffered a loss within the last three years, then you may struggle to find a mortgage lender to accept your application, as the loss will make the lender doubt whether the loan could be fully repaid. That said, it isn’t impossible. If, for instance, you have suffered a loss in the first three years of your business starting, but you have made a profit since then, a lender may still consider you. You might have to consult a specialist broker who deals with high risk applicants.


If you are a company director and require advice on finding a mortgage deal that suits your needs, contact our expert team at iam mortgages. Tell us about your circumstances and what you need from your mortgage and we will put you in touch with specialist lenders that fit your requirements.

Contractor Mortgages

If you work as a contractor, two of the main benefits of your job are that you have complete independence and flexible working hours. A small negative however is that your monthly income isn’t always the same, and can fluctuate depending on the amount of work you’ve received from others. As the number of independent contractors in the country rises and with more people turning to the positives of self-employment, lenders are becoming more willing to offer mortgages to them. Here’s how you can boost your chances of getting approved for a contractor mortgage and what you need to know about the application process.

How much can I borrow on a contractor mortgage?

When you first apply for a contractor mortgage, your lender will estimate how much you can realistically afford. You’ll need to provide proof of how much you earn month-to-month, as well as statements of your expenses. Contractors should generally provide a lender with earnings evidence from the last six months, although you should be prepared for some lenders to ask you for up to three years’ worth of accounts.

If you have been working as a contractor for a substantial period of time (more than five years), a lender will calculate your average annual earnings over that period to figure out how much they could lend you (and how much you could afford to repay per month). For example, if you earned £35,000 in one year, but a lesser sum of £30,000 in the second year, a lender will most likely estimate that your annual income is between these two figures (£32,500).

If however your earnings have fluctuated a fair amount from year to year, a lender might exercise more caution and take the lead from the lowest figure you have earned in a year to estimate what you can realistically borrow and afford in terms of repayments. Bear in mind that this might mean borrowing a smaller figure than anticipated.

If you’d like more details on how much you can borrow on a contractor mortgage, talk to our helpful experts at iam mortgages today. Tell us about your freelance business and your earnings and we can recommend the best lender for your circumstances.

I’m a contractor on a daily rate – can I still get a mortgage?

The answer to this question is ‘yes’, generally speaking. You may find that some lenders will be happy to calculate your annual income based on the daily rate that you earn, but some may require evidence of a contract to do so. If a lender chooses to do this, they will take your daily rate and multiply it by the number of days you have worked per week and per year.

For instance, if your income is £300 per day and you work 5 days per week, your estimated annual income will be £69,000 based on the following calculation:

  • £300 x 5 days per week = £1,500
  • £1,500 x 46 weeks worked in a year = £69,000 (annual income)

You will need to inform the lender of any gaps in your earnings that you have experienced due to illness, holiday or periods where you have not received work. Many lenders will assume that you have worked at least 46 weeks per year. If you are a new contractor, you will need to prove to the lender that you will be likely to succeed in your new career, providing evidence such as signed contracts for work.

How to increase your chances of getting a contractor mortgage

A great way to increase your chances of getting a contractor mortgage is to borrow a smaller amount from a lender. This way, you will not be considered as much of a ‘risk’ to them, and they may view you more favourably.

Provide as much evidence as you can to a potential lender that you are a successful contractor with plenty of work in the pipeline. Provide copies of contracts for work that are likely to be renewed or which are forthcoming, and be sure that you do not have lengthy periods (i.e. eight weeks or longer), where you are not working and taking time off, as a lender may not be too keen on this.

It is also worth providing information on your credit score. Ensure that your credit rating is as good as it can be when applying for a contractor mortgage. Pay off debts, credit cards and so on, as this will work in your favour. A lender will want to see that you are good at managing money, especially when you do not have a guaranteed income.

Buying a contractor mortgage with a partner

If you are a contractor and want to take out a mortgage with a partner who is in full-time work, a lender will certainly look more favourably on this compared to an application made on your own, as your partner’s income will provide them with more security regarding repayments. While this takes the pressure off if there are fluctuations in your income, you’ll still need to provide proof that your earnings are consistent and that you are a successful contractor.

Contractor mortgage lenders

There are many high street lenders that will consider you for a contractor mortgage, providing that you can give proof of earnings and continued success in your business. Some lenders however are more strict and use a score-based assessment that mainly favours full-time employment in a permanent position, so you may be offered a small sum of money or your application might be rejected.

It is always worth looking into underwriters who can assess your application for you and take into account the success of your self-employed situation as a contractor. Another option is to approach a lender that specifically caters to offering mortgage deals to contractors.


At iam mortgages, we can examine the mortgage market for you and recommend the right lender for your financial and employment circumstances. If you would like help finding a lender that offers contractor mortgages, get in touch with us today by giving us a call or filling in our online enquiry form.