Contractor Mortgages
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Advice for Contractor Mortgages
Contractors often face unique challenges when applying for a mortgage. Lenders typically prefer predictable income, which can make securing a Contractor Mortgage more complex than a standard application. Fortunately, with specialist guidance, you can navigate these challenges and secure finance that works for you.
At Mark One Financial Services, we help contractors across Scotland understand lender criteria, prepare strong applications, and access mortgage options that recognise the nature of contract income.
What Makes Contractor Mortgages Different?
Contractor mortgages assess income differently compared to traditional employed roles. Many lenders want to see:
• Consistent contract history
• Evidence of future or continuing contract
• Clear documentation of earnings
Because contractor income can vary week-to-week or month-to-month, different lenders have different criteria. This is where tailored advice makes a real difference.
In addition, some lenders will consider daily or hourly rate contracts. As a result, the range of suitable lenders for a Contractor Mortgage is narrower, but by no means inaccessible.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Specialist Advice That Makes the Difference
Securing a Contractor Mortgage often requires a deeper understanding of income structures and documentation. We start by reviewing your current contracts and income evidence. Then, we match your case with lenders who understand contractor profiles and offer relevant products.
Furthermore, we help you prepare everything lenders need before the application is submitted. This includes:
• Analysing your contract history
• Determine your income for affordability
• Clarifying lender criteria and fees
• Managing the full application and communication process
Because we know which lenders favour contractor earnings, we increase the likelihood of approval and reduce unnecessary delays.
A Clear, Managed Pathway to Contractor Mortgage
A Contractor Mortgage does not need to be stressful. From your first enquiry to offer and completion, we guide you step by step. We explain exactly what lenders look for, how income will be assessed, and what documentation will strengthen your case.
Additionally, we review protection needs alongside your mortgage, including income protection and life cover, so you can secure both your home and your financial future.
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