Contractor mortgages made simple
Working on a contractual basis is growing in popularity as it provides flexibility and often better remuneration. But contractors can find it harder to get a mortgage if their circumstances don’t tick all of the boxes of a standard mortgage application.
At Kensington, we recognise the issues faced by contractors, which is why we have developed criteria aimed at overcoming these hurdles.
- Income calculated on current weekly contract x 46
- Only 12 months contracting history required
- Could be less than 12 months if contract is within an existing profession
- Any profession
- No minimum income
- Contractors of any profession
- Contractors who have switched from salary to contract in the same sector within 12 months
- Contractors with historic credit issues