Mortgage Specialists for Contractors
Here at Pinnacle Finances, we have a whole market view of the mortgage industry in the UK which means we are ideally positioned to help contractors working in all industries. Turn to us with confidence if you are a contractor and want help to secure a great mortgage deal.
Mortgages for Contractors
Many people work as contractors these days. Tradespeople, IT professionals, healthcare workers and consultants, among others, often fall into this category, for instance. Obtaining a mortgage when you are a contractor isn’t always as straightforward as it should be, however.
This is where our specialist skills as experienced mortgage brokers can make such a difference. We deal with people with all sorts of employment statuses – including contractors – and more complex income arrangements to secure suitable mortgages.
What Qualifies you as a Contractor for Mortgage Applications?
For the purposes of most mortgage applications, contractors are deemed to be self-employed people who offer services to one or more larger organisations. Known as off-payroll working, contractors in the UK typically have an IR35 tax status with HMRC. However, it often gets more complex if you are working as a contractor for a foreign firm or working overseas.
Whatever your particular circumstances might be as a contractor, we are on hand to offer our expertise in the mortgage market today. This can be especially useful among contractors who may find it difficult to explain their wider financial circumstances to a high street mortgage provider that is unused to dealing with anything other than standard applications.
Still Have Questions?
If you cannot find an answer you are seeking, then simply click the button below, or call us at 0208 125 3100, to get in touch with one of our mortgage brokers.
Depending on your circumstances you may have a wide selection of mortgage companies willing to offer you the mortgage you desire. With access to thousands of mortgage deals, our experts will find you the most suitable deal.
Yes, we have whole of market access. As we are an independent brokerage, and not tied directly to a group of lenders, we can access the full mortgage market. This exposure allows us to scour the market for the best lending arrangements for our clients.
Lenders can vary significantly in what they are willing to offer when assessing affordability. However, our team of expert advisors will thoroughly assess the market to ascertain your maximum borrowing potential, and will fully guide you along the way.
Our specialist lending proposition encompasses all aspects of mortgage broking. Our team of experts are true professionals in areas such as expatriates, foreign currency, high net worth individuals, large loans, and complex buy to let, just to name a few. This spectrum of expertise is what sets us apart.
Does working as a contractor affect mortgage applications?
Typically, mortgage lenders will want to know all about your income if you are applying for a mortgage with them. Even if you have a job and are employed part-time, they will want to know if you also work as a self-employed contractor. Therefore, seeking a lender which has a track record of providing mortgages to people who work as contractors can be beneficial and something we’ll help you with.
Note that if you are employed by a contracting firm and on the payroll, you are not a contractor in the eyes of mortgage lenders. We will still be able to help you secure a great mortgage deal, however.
What happens if I apply for a mortgage as a contractor?
At Pinnacle Finance, our experts will take you through the process of obtaining a suitable mortgage from start to finish. Not only do we help contractors to secure mortgages that suit their wider financial circumstances, but we often help to save time by scouring the market across all lenders so our clients don’t have to.
How can Pinnacle help with mortgages for contractors?
We deal with mortgage applications of all shapes and sizes. Perhaps you are a contractor who wants to make a joint mortgage application with your spouse or partner who also works as a contractor, for example? There again, you might want help with a first-time mortgage or remortgaging as a contractor.
In all such circumstances and many more, we can help. Call us today to find out more.
Get in touch
We understand that every circumstance is different, and having a bespoke touch is essential in understanding a case. This openminded approach is what creates a professional standard that we always uphold.
Our team of bridging loan specialists are available to discuss your individual requirements, so simply complete the contact form and we’ll be in touch shortly.