Freelancer Financials

Since 2004, Contractors' Best Friend has been dedicated to providing expert mortgage advice and insurance services to UK contractors. As a specialist mortgage broker, our mission is to help independent professionals access the mortgage products and protection they need to achieve their goals.

Securing the Mortgage a Contractor Deserves

Our unique approach is built around securing mortgages based on contractors' gross contract earnings, rather than take-home pay, payslips, or accounts. This allows us to provide access to a wide range of mortgage loans and protection products that are specifically designed for contractors. With our expertise and independent status, we can help contractors navigate the complex mortgage market and find the best deals that suit their individual circumstances.

Why Contractors Need Help Getting a Mortgage

Mortgage providers often have a biased view of contractors' payment structures, which can make it difficult for them to secure a mortgage. At Contractors' Best Friend, we believe that this is unfair and work tirelessly to change this attitude. We have helped banks and underwriters understand the nuances of contracting and have negotiated exclusive mortgage deals that are available to contractors. Our extensive experience has enabled us to develop strong relationships with a range of contractor-friendly mortgage lenders, allowing us to offer a wide range of mortgage products that are specifically designed for contractors.

Borrowing Against Gross Income

Using gross income to assess mortgage affordability is crucial for contractors. This allows them to borrow more than they would if they used their accounts and SA302s. Our Contract Mortgage Calculator provides a guideline on how much a contractor can potentially borrow against their day rate. With our expert guidance, contractors can make informed decisions about their mortgage options and achieve their property goals.

What We Do

As a whole of market broker, we have access to a vast range of mortgage products and exclusive deals that are only available through us. Our experience and independence enable us to whittle down the field of lenders to find the most appropriate one for a contractor's circumstances. We work closely with our clients to understand their unique needs and provide tailored solutions to meet their goals.

Our Persistence and Experience

Our commitment to understanding contract-based underwriting has enabled us to develop strong relationships with a range of mortgage providers. We continue to work with banks and building societies to promote the adoption of contract-based underwriting practices, ensuring that contractors have access to the mortgage products and protection they need. Our persistence and experience have allowed us to pass on benefits to our clients, including access to greater funds and competitive interest rates.

Q&A: The Contractor Status and How it Impacts Mortgage Borrowing

We understand that navigating the mortgage market as a contractor can be complex and overwhelming. Our FAQ section provides answers to frequently asked questions, helping contractors prepare for the application process. From the documents and deposit required to how to find a mortgage broker, we cover everything that contractors need to know to achieve their property goals.

Borrowing Potential, Repayments, and Stamp Duty Calculators

We offer three simple calculators to help contractors budget for buying a home. Our Contractor Mortgages Calculator indicates how much a contractor's day rate will allow them to borrow from a lender. The Stamp Duty and Repayment calculators provide cost guidelines against the value of the home and mortgage.

Overview: Which Lenders Do and Don't Have Contractor-Friendly Policies

Many banking groups have adopted contract-based underwriting practices, while others have yet to do so. Our list confirms which lenders have and do not have contractor-friendly policies. However, it is essential to note that lender policies are ever-changing, so it is always best to consult with one of our expert advisors for the most up-to-date information.

In-Depth Guides

At Contractors' Best Friend, we understand that contracting can be a lonely profession. Our comprehensive guides provide in-depth information on a range of topics that affect contractors, including tax planning, accounting, IR35, and pensions. Our resources are designed to help contractors stay informed and make informed decisions about their financial futures.