Remortgaging as a Contractor: What You Need to Know

Remortgaging as a Contractor: What You Need to Know

Blog Article

If your current mortgage deal is coming to an end or you’re looking for better rates, remortgaging could save you money. As a contractor, you may face unique challenges — but with the right advice, remortgaging is entirely achievable.

Why Remortgage?
Many contractors choose to remortgage to:

Secure a better interest rate

Switch from a variable to a fixed rate

Release equity for home improvements or investments

Consolidate debts

Whatever your reason, remortgaging can improve your financial flexibility.

Challenges Contractors Face
Traditional lenders often assess income in ways that don’t reflect a contractor’s true earnings. They may request two to three years of accounts or consistent PAYE income, which doesn’t suit many self-employed professionals.

This is where contractor mortgage specialists come in.

How We Help Contractors Remortgage
At Contractor Mortgage Solutions, we work with lenders who understand contract-based income. We present your earnings using your day rate and contract length, which can open the door to more competitive deals.

We also help you time your remortgage correctly, so you don’t end up paying your lender’s standard variable rate (SVR) — which is usually much higher than fixed or tracker deals.

Documents You’ll Need
When remortgaging, have these documents ready:

Your current mortgage statement

Proof of your current contract and day rate

Recent bank statements

ID and address proof

Let’s Maximise Your Mortgage Potential
Remortgaging as a contractor doesn’t have to be stressful. With the right guidance and lender connections, you can save money and stay in control of your mortgage.

Contact Contractor Mortgage Solutions today to review your options and make your next mortgage move with confidence.