Mortgages for IT Contractors

Are you an IT contractor?

Some mortgage lenders recognise that you choose to work this way as it is more financially rewarding than being a ‘permie’ – and they don’t penalise you for being self-employed or for working on a short-term contract provided you can show that you have moved from one contract to another without too many long breaks. Just two years of consistent work, regardless of how many contracts there have been during that period can make you eligible to apply for a mortgage. You will need a deposit, normally at least 5%.

There is also another approach that works for many self-employed contractors. There are both high street and specialist lenders who will accept the latest set of accounts only. So if you have submitted first year accounts, or have been self-employed for many years, but have only recently posted a decent profit, you can apply for a mortgage using the latest years figures. This will increase your borrowing power if the profits declared have increased.

This includes first time buyers, next time buyers and remortgage deals.

If you are an IT contractor and want to get mortgage advice from a professional company that understand the position and the deals available, contact Harvey Bowes today on 029 2115 6918 or complete the from below and we’ll get back to you:

Think carefully before securing other debts against your home. Your home may be
repossessed if you do not keep up repayments on your mortgage

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About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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