Clydesdale Bank Mortgage Solutions for Contractors and Self-Employed
Clydesdale Bank is a well-known lender in the UK that offers a range of mortgage products. They are recognized for their flexibility, particularly with contractors and self-employed individuals. Clydesdale Bank often considers factors like contract value and self-employed income, making it easier for people with non-traditional employment to secure a mortgage. They provide various options, including fixed-rate and variable-rate mortgages, tailored to meet different financial needs and circumstances.
We work with more than 120 mortgage lenders, including:
Why Clydesdale Bank is a Great Option For Contractors
Clydesdale Bank is a great option for contractors. They use simple and fair manual underwriting methods to review mortgage applications. This means they don’t just rely on automated systems; instead, they have experienced underwriters who personally assess your financial situation. Clydesdale regularly updates their lending criteria to better serve contractors. They know that contractors often take small salaries and dividends to save on taxes, and they believe contractors shouldn’t lose out on good mortgage rates because of this. By working with a specialist mortgage broker, contractors can find the right mortgage at Clydesdale Bank.
Curious About How Much You Can Borrow?
Find out in seconds! Use our quick and easy mortgage calculators to see how much you could borrow based on your day rate. Keep in mind, this is just an estimate – for a free, personalised recommendation, contact us today!
We partner with banks and underwriters to navigate the complex landscape of contracting and simplify the process of using contract earnings alone for affordability assessments.
In today’s fluctuating housing market, understanding how much you can borrow is crucial. As a local mortgage broker in Watford, we provide expert advice to help you navigate this unpredictability. Whether you’re a first-time buyer in Watford, looking for a buy-to-let mortgage, or considering remortgaging in Watford, we ensure you secure the best possible deal.
Your Estimated Borrowing Amount
Essential Checklist for Securing a Clydesdale Bank Contractor Mortgage
If Clydesdale Bank seems like a good fit, we at contractor mortgage solutions can help with your application. Here’s what you need to know:
Contract Requirements
Your current contract must have at least one month remaining at the time of application and must be signed by both parties.
Income and Currency
Halifex accepts income in many currencies, including from Europe, Africa, Asia, North America, the Middle East, and Australasia.
They calculate income based on a 46-week period for daily rates.
Documentation for ltd
Provide the latest month’s business and personal bank statements.
Documentation For Umbrella Contractors
Submit the latest three months’ umbrella payslips along with the corresponding three months of personal bank statements.
Documentation for Payee Contractors
3 months bank statements and payslips.
Contracts Gaps and Earnings
3 months bank statements
There shouldn’t be more than a six-week break between contracts in the past 12 months.
You must earn at least £75,000 a year, with a daily rate of £326.08 or more over 46 weeks.
By meeting these criteria, you can benefit from Clydesdale’s quick processing times and secure the mortgage you need.
Our Relationship With Clydesdale Bank
We work directly with Clydesdale Bank’s senior underwriters to help with contractor mortgages. This direct relationship ensures that your application is handled by experts who understand contractor-specific challenges. We’ve helped hundreds of applicants. This means we can submit your application correctly with all the right documents, avoiding delays. Usually, we can get you a Mortgage in Principle within 24 hours. After that, the full application takes about 3 days, with completion in 2 to 4 weeks. This has allowed us to build a strong relationship with Clydesdale Bank and know the application process well.
Compare & Find the Right Mortgage for You
Don’t settle for less—explore, compare, and secure the best mortgage deal tailored to your needs.
Mortgage Comparison
Find the Right Mortgage in Minutes
Finding the right mortgage can be overwhelming, but we make it simple. Our mortgage comparison tool lets you explore options from top lenders, ensuring you get the best deal for your situation. Whether you’re a contractor, self-employed, or a first-time buyer, you can compare interest rates, loan terms, and monthly payments all in one place. Get a clear breakdown of costs and repayment terms before making your decision. With tailored solutions for contractors, securing the right mortgage has never been easier.
Mortgage Quote
Personalized Mortgage Quote, Instantly
Want to know how much you can borrow and at what rate? Our mortgage quote tool gives you a quick, no-obligation estimate based on your income and financial profile. We specialize in contractor mortgages, ensuring you get access to exclusive rates designed for self-employed professionals.
With no impact on your credit score, you can explore your mortgage options with confidence. Get a personalized quote in minutes and take the next step toward securing your dream home.
FAQ’S
How long does a mortgage application take at Clydesdale Bank?
After you submit your mortgage application to Clydesdale Bank, you can expect to receive a decision in principle within 48 hours. This quick response helps you move forward with confidence.
Can I get a mortgage if I have had late payments on secured credit?
Clydesdale Bank will not accept applications if you have had any late payments on secured credit in the past six months.
How flexible is Clydesdale Bank with contractor mortgage applications?
Clydesdale Bank is known for its flexible approach and willingness to consider exceptions for strong applications.
What type of income does Clydesdale Bank accept?
Clydesdale Bank accepts income in pounds sterling and calculates it based on a 46-week period.