Contractor mortgages made simple

We’ve helped hundreds of contractors navigate the market, providing specialist and in-depth knowledge of available solutions and eligibility requirements.

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How we can help with your contractor mortgage:

Exactly what you need

Your job shouldn’t stand between you and a loan for your home. We know how lenders look at contractors, and how they evaluate your level of risk, so we can tailor our recommendations to the solution you need.

Gaps in employment? No need to worry.

For contractors, jobs come and go, leaving room for nice holidays and extended breaks. Unfortunately those gaps in work can sometimes make it hard to secure a good loan, which is why you need advisers ready to make your schedule a non-issue.

Total market visibility

Because we have no restrictions when it comes to lenders we can approach, you get access to the entire mortgage market. And, of course, you also get our transparent, impartial and personalised advice along with it.

Let us find a contractor mortgage for you

Speak to one of our friendly advisers today, and download your credit report via 'Check my file', to kick start the process.

Product FAQs:

Not so much specific mortgages for contractors, but rather lenders with criteria that can be more favourable for contractors.

For further information, speak with a specialist or contact one of our specialist advisers.

Commonly a lender will look at your salary plus dividends, or possibly your salary plus business profits. However, there are a number of important considerations and much to think about here.

Speak with one of our specialist advisers for further information and advice that best suits you.

This really depends on the lender’s criteria and your contractor status. Different mortgage providers will treat certain contractors as employed, or as self-employed or based on their daily rate.

Our specialist advisers for further information and advice that best suits you.

From prime high street to specialist lenders and niche banks to building societies. There’s a range of lenders out there to speak to.

Our specialist advisers will assist you in finding the right lender that suits your needs.

Currently, the minimum deposit required is five percent. But if you’ve got a 10% or 15% deposit you would have access to more options and potentially better rates and fees. Our advice is to do some research here.

Our advice would be to do some research or speak with a specialist mortgage adviser or with one of our specialist advisers for further information.

It’s important you get the basics right:

  • Check your bank statements – Check more is coming in than going out.
  • Avoid using your overdraft – Whether it’s an agreed facility or not.
  • Get a copy of your credit report – Check if any work is required here.
  • Ensure any existing credit agreements are up to date – If possible, pay some of it off.
  • Avoid taking out new credit.
  • Make sure all your documentation is up to date.

For contractors:

  • Try and avoid gaps in employment – Where possible.
  • If you’re thinking of taking a new contract or nearing the end of an existing one – Speaking to a specialist broker for advice.

Our specialist advisers are always on hand for any further advice and information.

Standard identification documents such as:

  • Passport.
  • Driver’s licence.
  • Proof of address (bank statement, credit card statement or council tax bill).
  • Personal bank statements typically for at least the last three months.
  • Business bank statements where applicable.
  • You will also need proof of deposit if you are buying a property.

For contractors:

  • Pay statements for 3-12 months – If you’re under an umbrella company or in the construction industry.
  • Company accounts and tax returns – If you are self-employed.
  • Copy of your current contract.
  • Copy of previous contract if requested.

The lender may want to see if it’s been renewed or check for any gaps. Depending on the lender you may need a copy of your CV also.

Our specialist advisers are always on hand for any further advice and information.

The process for a contractor is the same as anybody else. The process is the same, but what’s important is you get the most suitable mortgage for your circumstances.

And speak with one of our specialist advisers for further information and advice that best suits you.

It’s not impossible to get a mortgage if you have poor credit or gaps in employment. However, it may be more challenging depending on the length of the gaps, how many there are and the reasons for them.

With bad credit, it will depend on what the issues are. The best thing to do is to get a copy of your full credit report, then speak to a specialist adviser for recommendations about your options. Feel free to contact one of our specialist advisers for further information.

This can vary widely, depending on the individual circumstances and the lender. The most important thing is to make sure that you can afford the mortgage both now and in the future.

For further advice speak with a specialist or feel free to contact one of our specialist advisors.

This will depend on the lender’s criteria and the person’s contractor status. Different mortgage providers will treat certain contractors as employed, or as self-employed or based on their daily rate. It depends on the individual circumstances and contract types. It’s best to seek specialist advice so that you understand your options.

A Buy to Let contractor mortgage is essentially the same as for anybody else. Lenders tend to be more interested in the potential rental income of a property rather than a person’s personal disposable income.
Some lenders have a minimum income requirement, which is usually around £25,000. The rationale behind this is to cover any potential void periods or basic maintenance costs.

But as the minimum income requirement is generally lower than that required for a residential mortgage, it should be more achievable.

If a contractor buys with another person, they are each underwritten individually. So if you have a person who’s employed buying with a contractor, the employed person will be assessed using their payslips and P60, whereas the contractor will be assessed using the ways that we’ve already discussed.

It could be that by having two incomes, you could borrow more. But it’s best to seek advice in the first instance so you know exactly what your options are.

What our customers think:

Kashif SharifKashif Sharif
15:32 22 Sep 23
The team at Hearthstone Mortgages recently managed my re-mortgage. Their service was very professional, swift, and ultra efficient. I am absolutely delighted with how the process went from start to finish, and I would highly recommend doing business with them.
Gary CorbettGary Corbett
18:08 15 Sep 23
Incredible service and advice from start to finish. When you work with Ajay you feel that your deal matters to him as much as it matters to you.A great addition to any power team, I look forward to working with Ajay on our next project.Highly recommend!
Sandra BSandra B
13:45 31 Aug 23
Best experience with a mortgage broker in a long time. Very responsive and reliable. Special thanks to Jordanne, highly recommend them!
Lee TomlinsonLee Tomlinson
22:33 30 Aug 23
I've worked with Hearthstone Mortgages on a number of occasions and have a great relationship with them. They have found me some great deals and communication is great whenever I need support. We'll certainly work together in the future.
Joe NewmanJoe Newman
17:20 22 Aug 23
Had an excellent experience dealing with both Ajay and Nadine who assisted my limited company with a remortgage and purchase at the same time. Would highly recommend and will definitely use again in the future.
joey awaritefejoey awaritefe
20:38 17 Aug 23
Hearthstone Mortgages were great at supporting us with first getting a bridging loan, and then securing a buy to let mortgage.Ajay was able to provide guidance throughout the processes and Nadine was always on hand to ensure things were ticking along and to answer any queries.
Jason EdgeJason Edge
22:04 16 Aug 23
Used Hearthstone for the first remortgage in our portfolio. Jordanne was very helpful through the whole process and a pleasure to work with. In you need advice or a mortgage of any kind I would highly recommend them. Thanks again
Jamie BoxallJamie Boxall
11:07 16 Aug 23
We have been working with hearthstone now for two years.The team are incredible at what they do they take time to understand your case and really work to get your the right product for you.I strongly recommend Ajay and his team to any investors or for your own residential purchase
Conor HarrisonConor Harrison
18:38 21 Dec 22
Second time I've worked with Ajay at hearthstone and won't be the last! An expert in his field and delivers such a personable and professional service, thanks for everything!
King Panda PropertiesKing Panda Properties
08:12 03 Dec 22
Excellent knowledge, systems and client care, Hearthstone Mortgages has it all!In particular, a portfolio owner herself, Mortgage Advisor Jordanne deserves a special mention. From Day 1 her understanding and attention to my client needs has been outstanding and she is an absolute asset to the business and company owner, Ajay.I wholeheartedly recommend using Hearthstone based on my experiences, be it a private mortgage, BTL, portfolio etc. I will certainly be continuing to use them going forward. Thanks, Jordanne. KPP
Simon CharnockSimon Charnock
17:46 14 Sep 22
Great communication throughout, excellent service, always happy to help and advise making the remortgage of a HMO property very straight forward.Thanks Ajay and teamSimon @ C&W Homes
Carys GreenCarys Green
18:15 11 Jan 22
I can’t fault the service i received for my remortgage. Other advisors were put off with my slightly complicated situation however Ajay made the whole process easy and completely seamless. He also went above and beyond to push forward to completion whilst he was on holiday.Thanks for all your help and looking forward to working with you again in the future.
Dessi DonchevaDessi Doncheva
16:21 13 Mar 21
Couldn't thank Ajay from Hearthstone Mortgages enough for his support, professionalism and responsiveness! Ajay pretty much held our hands through the purchase of our first investment property, guiding us through the process, explaining every detail I questioned on the mortgage documents and doing his best to speed up the purchase at a time when solicitors and lenders were being inundated with work and slowing things down. When our mortgage offer expired, Ajay got right on it and even got us a better rate! Not to mention, he was even chasing our solicitors and escalated the case internally as the solicitor handling our case wasn't very on top of things, so Ajay got them changed, leading to the purchase completing within a few weeks afterwards. All of this for a very fair price - what you pay is much less than what you get! Thoroughly recommend Ajay and the team and will be using them again in the future for sure!
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