Home Mover Contractor Mortgages
Looking to Move Home Using Your Contract Rate to Secure a Better Mortgage?
Tailored Mortgage Solutions for Contractors Moving Home
Limited Company
Is a business structure where contractors manage their income separately from personal finances, impacting their mortgage application.
Paye Contractors
Umbrella Companies
We Operate Based on Your Day Rate
We specialize in securing mortgages for contractors based on their contract earnings alone.
No tax returns, no accounts
We have helped numerous contractors over the last decade to purchase their homes and investment properties. We work daily with lenders to offer tailored contractor mortgages rarely found on the High street or Online.
We Operate Based on Your Day Rate
We specialize in securing mortgages for contractors based on their contract earnings alone.
No tax returns, no accounts
We have helped numerous contractors over the last decade to purchase their homes and investment properties. We work daily with lenders to offer tailored contractor mortgages rarely found on the High street or Online.
Use our calculator to estimate your borrowing power based on your day rate
Please note, that this calculator only provides indications of possible borrowings. Contact us for a free bespoke contractor mortgage recommendation.
Ready to discuss your options?
Don’t let traditional mortgage requirements hold you back. Secure your home mover mortgage based on your day rate and achieve your homeownership goals today with us!
Finding the Perfect Home Mover Mortgage for Contractors
What sets us apart is our personalized approach tailored to each contractor’s unique payment methods and financial situation. We thoroughly review your income, explore all mortgage options, and explain their month-to-month impact. Thanks to our industry connections, we can offer exclusive mortgages not found elsewhere and potentially help you port your existing mortgage, even if others have said otherwise.
Avoid local High Street branches that may not offer competitive rates or the best fit for you. If you’ve faced rejection from another lender, contact us today. We focus on your overall financial picture rather than just pay slips, ensuring a solution tailored to your needs.
Simple contractor mortgage process: Less Paperwork, Maximum Results
To secure a mortgage as a contractor, you will typically need to provide a significant amount of documentation. Thanks to our extensive experience, we’ve streamlined this process to minimise paperwork. Send us:
- A signed copy of your contract confirming your day or hourly rate.
- 3 months of bank statements showing your earnings.
- An updated CV with your employment history.
- Proof of ID (usually a passport, driving licence, or utility bill).
This efficient approach helps us secure your mortgage with less paperwork than you’d encounter with High Street advisors. We ensure that, based on your rate, we find the best mortgage product to maximise your borrowing power and reduce your repayments.
Simple contractor mortgage process: Less Paperwork, Maximum Results
To secure a mortgage as a contractor, you will typically need to provide a significant amount of documentation. Thanks to our extensive experience, we’ve streamlined this process to minimise paperwork. Send us:
- A signed copy of your contract confirming your day or hourly rate.
- 3 months of bank statements showing your earnings.
- An updated CV with your employment history.
- Proof of ID (usually a passport, driving licence, or utility bill.
This efficient approach helps us secure your mortgage with less paperwork than you’d encounter with High Street advisors. We ensure that, based on your rate, we find the best mortgage product to maximise your borrowing power and reduce your repayments.
Why do home movers choose us?
Client testimonials
Fee Jav
Client
Fantastic service from Mo and his team at Contract Mortgage Solutions. They made my remortgage process easy and efficient. A real pleasure to deal with, and I highly recommend them as great mortgage brokers.
Goretty Dias
Client
Mo is extremely professional and has helped me with new and remortgage transactions over the past 3 years. Contract Mortgage Solutions is efficient, communicative, and resolves issues well. Highly recommend!
Layla De Freitas
Client
Mo and his team have provided our mortgage for 7 years, helping us remortgage 3 times. Mo goes above and beyond with in-depth market knowledge and excellent service, even with our changing plans. Thank you!”
FAQ’S
Can I take my current mortgage with me?
Porting a mortgage refers to the process of transferring your existing mortgage term, rate, and balance to a new property, provided it remains affordable and the loan-to-value ratio is not negatively impacted. For instance, if the new home is worth less than the current mortgage, the lender may reject the application. It’s crucial to note that porting is treated as a new mortgage application, meaning the lender has the discretion to deny the request if it doesn’t meet their criteria.
What are my mortgage options if I’m moving?
What if I want to move to a new house before I’ve paid off my mortgage?
No problem—there are several options in this situation. The most costly option is paying the lender’s early repayment charge, which is generally a percentage of the remaining mortgage balance and can often amount to thousands of pounds. This route is typically only chosen if no other alternatives are available or if a new mortgage offers substantial savings.
Alternatively, most lenders allow you to port (transfer) your existing mortgage to your new home, which can be a more cost-effective choice.
Do I need to have been contracting for a specific period?
What are the other charges you have to pay when moving home
When buying your first home in the UK, there are several additional charges to consider beyond the purchase price:
- Stamp Duty Land Tax (SDLT): This is a tax on property purchases.
- Legal Fees: Solicitors or conveyancers handle the legal aspects of the purchase, including searches and contracts. Fees typically range from £500 to £1,500.
- Survey Costs: A survey assesses the property’s condition. Costs vary depending on the survey type, from basic home condition reports to more detailed structural surveys, generally between £300 and £1,000.
- Mortgage Arrangement Fees: Lenders may charge fees for setting up the mortgage, which can range from £0 to £2,000. Some mortgages have no fees or offer to add the cost to the loan.
- Valuation Fees: Lenders usually require a property valuation to approve the mortgage. This fee is often covered by the borrower and can range from £150 to £1,500.
- Removal Costs: The cost of moving your belongings can vary based on distance and volume, typically ranging from £300 to £1,500.
- Insurance: Buildings insurance is mandatory, and contents insurance is recommended. Costs vary based on coverage and property value.
- Land Registry Fees: This fee is for registering the property in your name and varies based on the property’s value, ranging from £40 to £910.
- Ongoing Costs: Don’t forget about ongoing costs like council tax, utilities, and maintenance.
It’s essential to budget for these additional costs to ensure a smooth home-buying process.
How much I can borrow and what will be my monthly payments?
This varies greatly depending on your circumstances—individual lenders use many factors to calculate your borrowing capacity. Use our calculator as a rough guide, but call us for a more accurate figure:
What will be my mortgage interest rate?
The mortgage interest rate depends on multiple factors, including the interest rate set by the Bank of England, your credit score, down payment, loan-to-value (LTV) ratio, and the loan term. Consequently, the interest rate varies for each individual. However, with our experience and strong relationships with contract-friendly lenders, we can find the best deal tailored to your needs.