This is a growing segment, with over 1.8m self-employed contractors in the market. Our criteria means we can help you to cater for these clients.

A year on from launching our contractor policy, we speak to CMME Mortgages, who helped us develop the policy, to talk about why they think it still works so well for self-employed contractors one year on.

Our criteria

We will assess self-employed contractors using their daily contract rate x 5 days x 48 weeks. Where there are gaps in the employment history, the income calculation will be pro-rated (e.g. 8 week gap: income= 5 days x 40 weeks). When completing the application on our eMortgages system, you will need to enter your client's daily rate x 5 x 48 weeks as employed income rather than self-employed income.

Your clients must meet the following criteria:

  • minimum of 2 years' experience in their chosen profession
  • minimum of 1 years' contract history
  • minimum income (using daily rate) of £50,000

Your clients must provide the following

  • a CV to confirm 2 years' experience
  • copy of previous contract(s) (covering a minimum of 1 year)
  • latest month's personal or business bank statements
  • Signed E-declaration
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