NatWest Contractor Mortgage Solutions
Mortgage Solutions for Self-Employed And Contractors with NatWest
Mortgage Solutions for Self-Employed And Contractors with NatWestNatWest is a well-known UK bank that offers a variety of financial services, including mortgages. NatWest is known for being contractor-friendly and caters to the needs of the UK’s flexible workforce. They maintain high standards to ensure trustworthy lending practices. They help people buy homes by providing different types of mortgage options, whether you’re a first-time buyer, looking to remortgage, or want to invest in property. NatWest also offers online and in-branch support to make the process as easy as possible. Through our special partnership with NatWest, we can offer a broader selection of mortgage options for contractors than you would typically find.
We work with more than 120 mortgage lenders, including:
Why NatWest is a Great Option For Contractors
NatWest is a popular choice for high-earning contractors, offering mortgages to those with a minimum day rate of £326 or an annual gross income of £75,000. The bank also accepts applications from UK-based contractors who are paid in other currencies.
By focusing on these specific financial criteria, NatWest reduces risk, making it a secure but selective option for contractors who meet these requirements.
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 NatWest Contractor Mortgage
As we’ve grown, we’ve worked with NatWest to grow along with us. Now, NatWest understands the needs of more contractors in the UK and has set up clear rules for lending to them.
Here’s what you can expect from a NatWest contractor mortgage through us.
Contract Requirements
- Your contract needs to have at least three months left when you apply.
- You need either 1 year of experience or 6 months of experience with 6 more months left on your contract.
Income and Currency
- NatWest 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 Limited Contractor Company
Last 3 months of personal and business 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
- 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 NatWest’s quick processing times and secure the mortgage you need.
Our Relationship With NatWest
NatWest is a contractor-friendly lender, and many clients of Contractor Mortgage Solutions have successfully gotten mortgages from them. NatWest is flexible with cases and looks at each application individually. 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. Our close ties with NatWest allow us to process your application faster than most other brokers.
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 does NatWest define a contractor for mortgage purposes?
NatWest defines contractors as professionals who work temporarily for various clients or companies, usually under specific contracts for a set amount of time.
How does NatWest define a self-employed professional for mortgage purposes?
NatWest considers you self-employed if you own 20% or more of a business that provides most of your income.
Can I get a NatWest umbrella mortgage?
Getting a mortgage as a contractor working through an umbrella company is possible with NatWest but can be challenging. To improve your chances, contact our team today to discuss umbrella mortgage options based on your situation.
What is the best way to secure a NatWest mortgage for contractors?
Getting a mortgage as a contractor or self-employed professional can be tricky. To improve your chances with NatWest, it’s best to work with a specialist contractor mortgage broker. Contractor Mortgage Solutions consultants are experts in contractor and self-employed mortgages and will guide you through the process to help increase your chances of approval.