All you need to know about mortgage applications for contractors


PAYE Contract Workers

We can help agency, fixed term contractors and umbrella contractors.  We’ll need to see:  

  • 1 year's evidence and a contract in place for minimum of a further 3 months. The 1 year's evidence can be as follows:
    • Two 6 month contracts.
    • Four 3 month contracts.
    • Latest 12 months consecutive payslips.

Construction Industry Scheme (CIS)

Whilst technically these applicants are self-employed for tax purposes, please key as Employed on the application. We will use the Gross income figure (minus expenses) shown over the last 12 months from the contract vouchers/statements. 

We’ll need to see:

  • Latest 12 months consecutive CIS slips and contract confirming ongoing employment.

Umbrella Company Contractor

We can help Umbrella Contractors. We know their income may be structured in different ways.

It’s common to see salary/basic pay, holiday pay and Commission on your customer’s Payslip. For Umbrella Company Payslips, we will use the income after the Umbrella Company deduction has been made.

High Income Contractors / Day Rate Contractors