Why choose a contractor mortgage?

A contractor mortgage can help ensure your income is assessed fairly. Standard self-employed underwriting can sometimes underestimate affordability by focusing only on salary and dividends. Contractor-friendly lenders may use your day rate or contract value, which can often provide a more realistic view of earnings and increase borrowing potential. (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.