Instead of wasting weeks applying to unsuitable lenders or wondering if you’re mortgage-ready, discover your exact mortgage prospects in a focused 15-minute assessment that predicts approval probability with remarkable accuracy.
This isn’t a generic mortgage calculator or basic affordability check. It’s a contractor-specific evaluation that considers various factors affecting your mortgage prospects, from lender appetite to application timing.
In just 15 minutes, you’ll have a good understanding of where you stand, which lenders may be suitable for you, and what borrowing capacity you might realistically expect.
Generic calculators assume salary income, regular payslips, and standard employment documentation. They can’t assess contractor day rates, contract renewals, or specialist income patterns.
Basic calculators use crude income multiples that don’t reflect how specialist lenders actually assess contractor affordability. Your real borrowing capacity often differs significantly from generic estimates.
Standard tools can’t tell you which lenders are currently accepting contractor applications or which ones match your specific profile and circumstances.
Generic assessments ignore crucial elements like application timing, documentation quality, and market conditions that significantly impact contractor mortgage success.
Discover your actual borrowing potential using specialist contractor lending criteria, not generic employment-based calculations that underestimate contractor income.
Discover your actual borrowing potential using specialist contractor lending criteria, not generic employment-based calculations that underestimate contractor income.
Get percentage probability estimates for mortgage approval based on current market conditions, lender appetite, and your specific contractor profile.
Identify the 2-3 specialist lenders most likely to approve your application, avoiding time-wasting submissions to unsuitable lenders.
Generic assessments ignore crucial elements like application timing, documentation quality, and market conditions that significantly impact contractor mortgage success.
Discover your actual borrowing potential using specialist contractor lending criteria, not generic employment-based calculations that underestimate contractor income.
Get percentage probability estimates for mortgage approval based on current market conditions, lender appetite, and your specific contractor profile.
Identify the 2-3 specialist lenders most likely to approve your application, avoiding time-wasting submissions to unsuitable lenders.
Understand realistic timelines for mortgage approval based on your current readiness level and market conditions.
Identify potential issues that could affect approval and receive specific strategies for addressing them before the application.
Rachel, Software Developer – Assessment Prevented Wasted Applications
Challenge: Rachel was considering applying to her bank for a mortgage but was uncertain about approval prospects. Previous online calculators gave conflicting estimates of her borrowing capacity.
Our Solution: Rachel completed our 15-minute assessment, which revealed she had 85% approval probability with specialist lenders but only 35% with traditional banks. The assessment identified optimal lenders and predicted £420,000 borrowing capacity.
Result: Rachel applied directly to the recommended specialist lender and received approval within 6 days at the predicted borrowing level. The assessment saved her from potential rejection by unsuitable lenders and provided confidence throughout the process.
James, Financial Consultant – Assessment Identified Timing Issues
Challenge: James wanted to apply for a mortgage immediately but was unsure if his recent contract change would affect approval prospects. He was concerned about timing and documentation requirements.
Our Solution: Our assessment revealed that James’s recent contract actually strengthened his application but identified a documentation gap that could cause delays. The assessment recommended waiting 4 weeks for optimal timing.
Result: James followed the assessment recommendations, strengthened his documentation, and applied at the optimal time. He secured a £380,000 mortgage with preferential terms that wouldn’t have been available with immediate application.
Sophie, Marketing Contractor – Assessment Revealed Hidden Opportunities
Challenge: Sophie believed she could only borrow £250,000 based on online calculators and was preparing to compromise on her property search. She was uncertain about her true borrowing potential.
Our Solution: Our assessment revealed Sophie’s actual borrowing capacity was £340,000 using specialist contractor lending criteria. The assessment identified specific lenders who would recognise her full earning potential.
Result: Sophie secured the full £340,000 borrowing capacity predicted by the assessment, enabling her to purchase her preferred property rather than compromising. The assessment revealed opportunities she didn’t know existed.
Don’t let mainstream lender rejections discourage you. At Mortgage Knight, we specialise in contractor mortgages and work with lenders who understand contractor income.
Get your free contractor mortgage consultation today. Our specialists will review your situation and provide clear guidance on your options – usually within 24 hours. No obligations, no fees for the initial consultation.
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Ans: Contractors working with specialist lenders often receive decisions more quickly than through traditional banks. Our clients typically receive responses within 2-4 weeks of application. The key is having appropriate documentation prepared and applying to lenders who understand contractor income structures.
Ans: Many specialist lenders are more flexible than traditional banks. Some will consider contractors with 12-18 months of contracting history, particularly if you have strong employment background or current contracts. Requirements vary by lender and individual circumstances.
Ans: IR35 status can affect applications, but specialist lenders understand the legislation and how it impacts contractor income. We work with lenders who have experience assessing both inside and outside IR35 contractors, ensuring your situation is assessed appropriately.
Ans: Contractors can often access similar deposit requirements to employed borrowers. Many specialist lenders offer 90% LTV mortgages (10% deposit) for contractors with strong income profiles. Requirements depend on income strength, credit profile, and individual circumstances.
Ans: Not necessarily. Specialist contractor lenders often offer competitive rates because they understand contractor income properly and can assess risk accurately. Many contractors secure rates competitive with standard residential mortgages.
Ans: Yes, contractors have access to government schemes. We’ve helped contractors access various schemes including Help to Buy equity loans and shared ownership. The key is applying through lenders who participate in these schemes and understand contractor income assessment.
