Is it hard to get a mortgage as a contractor?

It can be more complex, but it is not necessarily harder when the application is structured properly. The challenge is usually lender selection and how income is evidenced. Contractors often have strong earning power, but standard underwriting can underestimate this if only tax documents are used. Using a lender that understands contract income can make a significant difference to both approval chances and borrowing levels. (Vantage Mortgages) Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage.