What Documents Do Contractors Need for a Mortgage?

What Documents Do Contractors Need for a Mortgage?

Blog Article

Why Documentation Matters
When applying for a mortgage as a contractor, providing the right documents is essential. Lenders want proof of income, stability, and your ability to repay the loan. Preparing in advance can speed up approval and reduce stress.

Core Documents Required
Most contractor-friendly lenders will ask for the following:

Current Contract: This shows your daily or hourly rate, contract length, and terms.

Bank Statements: Typically, the last 3 to 6 months of personal and/or business statements.

ID and Proof of Address: A copyright or driving licence and recent utility bills or bank letters.

SA302 Tax Calculations: Especially important if you’ve been self-employed for more than a year.

Proof of Previous Employment or Contracts: Helps show a track record of consistent work.

Additional Documents Based on Setup
Limited Company Contractors: May also need company accounts, dividend records, and tax overviews.

Umbrella Company Workers: Usually provide recent payslips and a P60 instead.

A mortgage broker can help you identify exactly which documents your chosen lender will want.

Tips to Stay Organised
Keep digital and physical copies of your key paperwork.

Avoid large unexplained transactions in your bank accounts.

Update your contract details as soon as they change.

Conclusion
Having the right documents ready can make your mortgage journey faster and smoother. Whether you’re a new or experienced contractor, good preparation is key to approval.

Need help gathering your paperwork? At Contractor Mortgage Solutions, we guide you through every step and make sure you’re mortgage-ready.