Professional
A mortgage based on the strength of your contract, not a misleading payslip
Contractors can earn a strong and reliable income while drawing a modest salary, working through an umbrella company or moving between fixed-term assignments. The difficulty is not always affordability; it is choosing a lender that assesses the contract in the right way. ERG Finance understands day-rate calculations, contract history and limited-company structures.
We will review your income, plans and property before recommending the most suitable mortgage route. Your initial conversation is without obligation.
Who we can help
We help IT, technology, engineering, finance, professional services, healthcare, public-sector and other contractors. This includes day-rate contractors, umbrella workers, fixed-term employees, CIS workers and directors of personal service companies, subject to the relevant lender definition.
Why a standard mortgage calculator may not tell the full story
Automated calculators rarely capture the nuances of professional income. Common issues include:
- Day-rate income that is higher than salary and dividends
- A current contract with less than six or twelve months remaining
- A short gap between contracts
- Moving from permanent employment into contracting
- Umbrella payslips with deductions and rolled-up elements
- IR35 status or a limited-company structure
How ERG Finance approaches your mortgage
Where appropriate, some lenders annualise a day or weekly rate using a set number of working weeks. Others treat the applicant as employed or self-employed. We review the current contract, renewal history, sector experience, gaps, income evidence and company position before choosing the route.
We will:
- understand how every element of your income is earned and evidenced
- assess affordability and criteria before recommending a lender
- compare rate, fee, flexibility and overall cost rather than focusing on rate alone
- prepare and manage the application through to completion
- remain available to review the mortgage as your career and plans develop
What we may ask you for
The exact documents depend on the lender and income structure, but may include payslips, P60s, employment or partnership contracts, tax calculations and tax-year overviews, business or partnership accounts, bank statements, evidence of bonus or allowances, and confirmation of a new role or return-to-work arrangements.
Frequently Asked Questions
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Some lenders use the contract day rate multiplied by an assumed number of days and weeks; others use payslips, salary and dividends, or business profit. The best calculation depends on the contract and structure.
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Requirements vary. Some lenders want a twelve-month or two-year track record, while others can consider a first contract where there is relevant industry experience or continuity.
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Short gaps can be acceptable, especially where there is a strong renewal history and no concern about future work. The permitted length differs by lender.
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Yes. Lenders differ in how they read umbrella payslips and which elements of pay they include, so accurate assessment is important.
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No. It changes how income may be evidenced and assessed, but there are mortgage options for contractors working inside or outside IR35.
Speak to an advisor
Book a consultation
Check out our availability and book the date and time that works for you.
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Time zone: United Kingdom (Europe/London)
Your consultation
A 30-minute telephone call with one of our advisers. Tell us a little about your situation and we’ll match you with the right person.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. The availability and terms of any mortgage depend on individual circumstances, lender criteria, affordability, credit assessment and valuation. Professional status does not guarantee acceptance or enhanced borrowing.