Contractor Mortgage Specialist. Your Day Rate Is Your Real Income.
UK contractor mortgages can be assessed on your contract day rate rather than your payslip, whether you work inside IR35, outside IR35, through an umbrella company or your own limited company. Complex Income Mortgage is a specialist UK broker matching contractors with lenders that recognise day-rate income; lending remains subject to status, valuation and full underwriting.
If you work outside IR35, lenders often need help understanding your income — we specialise in mortgages for outside-IR35 contractors.
Outside IR35 Mortgage
If you operate outside IR35, specialist lenders can assess your mortgage based on your contract day rate — not your umbrella payslip. We work exclusively with lenders who understand outside-IR35 contracting: your income is annualised using day rate × 5 days × 46 weeks, unlocking significantly higher borrowing than high street banks will offer on the same earnings.
The High Street Doesn't Speak Contractor
You're not unemployed. You're not risky. You're a specialist who gets paid a premium. But the system wasn't built for you.
Umbrella Payslip ≠ Your Actual Income
Your umbrella PAYE slip shows £30k. Your contract is worth £115k. The bank sees the payslip. We see the contract.
Inside IR35? Instant Decline.
Many high street lenders won't touch inside-IR35 contractors. They treat you like an employee but without the payslip to match. It's a gap no one designed for.
Less Than 12 Months Left on Contract
Banks want long contracts. Contractors get rolling 3-6 month renewals. We work with lenders who understand that's how contracting works.
Gaps Between Contracts
A 4-week gap? Banks call it unemployment. We call it Tuesday. Specialist lenders assess your track record, not your diary.
What Your Day Rate Actually Means
Illustrative formula used by many specialist lenders: Day Rate × 5 days × 46 weeks = Annualised Income. Then × 4.5 = Maximum Borrowing. Individual lenders vary.
| Day Rate | Annualised Income | Illustrative Max Borrowing (4.5×) |
|---|---|---|
| £300/day | £69,000 | £310,500 |
| £400/day | £92,000 | £414,000 |
| £500/day | £115,000 | £517,500 |
| £600/day | £138,000 | £621,000 |
| £700/day | £161,000 | £724,500 |
These figures are illustrative only, based on example income assumptions. Actual borrowing depends on your specific circumstances, full lender underwriting, and credit assessment. Lender criteria vary.
Every Type of Contractor, Assessed Differently
"Contractor mortgage" covers several very different situations. Here's how the main ones are actually treated.
Inside vs. outside IR35
Your IR35 status changes which lenders are worth approaching, not whether you can get a mortgage at all. See how each status is actually assessed.
Read moreFixed-term contractors
Rolling 6-12 month contracts, common in the public sector and large programmes, are assessed on renewal history and sector demand rather than a single end date.
Umbrella-company workers
Paid via an umbrella but still contracting on a day rate? Specialist lenders can look past the PAYE payslip to the underlying contract value.
One year of accounts
Recently moved from PAYE or umbrella into a limited company? You may not need two full years of company accounts before a lender will consider you.
Read moreEngineering, IT, medical & professional contractors
Sector matters. Lenders that specialise in day-rate professionals — engineering, IT, healthcare, legal, project management — often apply more favourable multiples than generalist panels.
Gaps between contracts
A short gap while sourcing the next contract is normal in this market. What matters to a lender is total time contracting and current pipeline, not a perfectly unbroken timeline.
IT Contractor. Inside IR35. Declined by a High-Street Bank. Approved at £517k.
Our client — a senior DevOps contractor in Manchester — earned £500/day through an umbrella company. Inside IR35. A mainstream high-street lender assessed his umbrella PAYE payslip at £32,000 and offered a £144,000 mortgage. He needed £480,000.
We approached a specialist lender who assessed his contract day rate at £500 × 5 × 46 = £115,000 annualised income. At 4.5×, he was approved for £517,500 — enough to buy a 4-bed detached in South Manchester with a 15% deposit.
How It Works
Three steps. No portals. No algorithms.
Send us your contract
Current contract, day rate, and a brief history of your contracting career. That's all we need to get started.
We calculate your real borrowing power
Day rate × 5 × 46 weeks = your annualised income. We match this to the best lender on our panel — not the most convenient one.
Application submitted to a decision-maker
No portals, no algorithms. Your case goes to a human underwriter at a lender who specialises in contractor income.
Why Contractors Choose Us
FCA Regulated Advice
Regulated mortgage advice is provided through Marklay Mortgages Ltd, an FCA authorised firm.
Specialist Lender Panel
Including lenders who specialise exclusively in contractor income — IR35 inside and outside.
Clear Fee Agreement
Your fee and payment stages are confirmed in writing before you proceed. View broker fees.
Frequently Asked Questions
Answers specific to UK contractor mortgage applicants.
Risk warning
Your home may be repossessed if you do not keep up repayments on your mortgage.
The guides and articles on this website are provided for general information only. They are not tailored to your personal circumstances and should not be treated as financial advice or a personal recommendation. If you would like advice based on your individual circumstances, please speak to an adviser.
Mortgage advice is provided by Hayden Richards, CeMAP-qualified, as a Registered Individual of Marklay Mortgages Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 930490). Richards & Logic is a trading style of Marklay Mortgages Ltd (FRN 930490, company no. 12183898). Website owned by MarketMedia Ltd (07765565).
Further Reading
Complex Income Mortgage Advisor: Best Options for Every Non-Standard Income Type
Day rate income is one type of complex income. Read our full guide to every complex income category — contractors, directors, sole traders, and multi-source earners.
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