Need a bad credit contractor mortgage? Our specialist UK adverse credit mortgage brokers have 20+ years of experience helping contractors with CCJs, defaults, and credit issues secure mortgages using contract-based underwriting.
High UK contractor day rates demonstrate a strong current financial position. Specialist bad credit contractor mortgage lenders understand that income capacity often matters more than historic credit issues for contractors.
Some UK lenders specialise exclusively in adverse credit cases. They understand that credit problems don’t reflect current contractor earning ability or mortgage affordability capacity.
Specialist bad credit contractor mortgage lenders use manual assessment rather than automated credit scoring, allowing individual contractor circumstances to be properly considered despite credit history.
Established UK contractors with good day rates are viewed as lower risk despite credit issues, due to income stability and strong earning capacity in the contractor market.
Satisfied CCJs: Widely accepted by specialist UK bad credit contractor mortgage lenders Unsatisfied CCJs: Still possible with the right adverse credit contractor mortgage lender and higher deposits Recent CCJs: Manual underwriting considers circumstances and current contractor position Multiple CCJs: Specialist UK adverse credit contractor mortgage lenders can consider cases others won't touch
Historic Mortgage Arrears: Accepted if demonstrated current contractor affordability Defaulted Accounts: Common with specialist UK adverse credit contractor mortgage lenders Missed Mortgage Payments: Considered alongside current contractor income capacity Previous Repossession: Possible with specialist adverse credit lenders and good contractor income
Defaulted Credit Cards: Standard for UK adverse credit specialist contractor mortgage lenders Defaulted Personal Loans: Accepted with contract-based underwriting for contractors Debt Management Plans: Current or previous plans considered by specialist contractor mortgage lenders Individual Voluntary Arrangements (IVAs): Specialist UK contractor mortgage lenders available
Discharged Bankruptcy: Accepted by specialist UK contractor mortgage lenders after discharge Previous IVA: Completed arrangements widely accepted by adverse credit contractor mortgage lenders Debt Relief Orders: Specialist contractor mortgage lenders understand these arrangements Company Liquidations: Separate from personal credit, often not problematic for contractor mortgages
Client: Mark, IT Consultant, £800/day
Credit Issues: 2 satisfied CCJs totalling £8,500 from business failure
Previous Declines: 3 high street lenders rejected application
Kensington Assessment: Focused on £184,000 annual contract income
Result: £450,000 mortgage approved at 4.2% rate
Advantage: Day rate strength overcame credit history
Client: Sarah, Project Manager, £650/day
Credit Issues: 6 months mortgage arrears in 2019 due to unemployment
Current Position: 2 years successful contracting, strong income
Pepper Money Assessment: Current affordability and income progression
Result: £380,000 mortgage approved, rate only 0.8% above prime
Recovery: Contractor income demonstrated full financial recovery
Client: Tom, Business Analyst, £550/day
Credit Issues: Bankruptcy discharged 3 years ago
Contracting: 18 months at current rate, consistent contracts
Foundation Assessment: Post-bankruptcy income rebuilding and stability
Result: £310,000 mortgage with 25% deposit
Strategy: Higher deposit offset credit history concerns
Client: Lisa, DevOps Engineer, £750/day
Credit Issues: 4 defaulted accounts from divorce and business closure
Current Position: Strong contracting income for 2+ years
Bluestone Assessment: Current financial strength vs historic problems
Result: £425,000 mortgage approved with competitive terms
Focus: Lender prioritised current earning capacity over past issues
Recent vs Historic: The Timing of credit problems affects lender choice Severity Analysis: Minor defaults vs major issues require different approaches Resolution Status: Satisfied vs outstanding issues impact available lenders Explanation Preparation: A Clear explanation of the circumstances helps applications
Higher Deposits Help: 25-30% deposits often overcome credit concerns Risk Mitigation: Larger deposits reduce lender risk perception Rate Improvements: Higher deposits can access better rate tiers Lender Access: Some adverse credit lenders require minimum deposits
Current Contract: Strong day rate demonstrates current financial position Contract History: Consistent contracting shows income stability Progression: Day rate increases show an improving financial situation Reliability: Regular contract renewals demonstrate market value
Credit Age: Older credit issues have less impact Recovery Period: Time since problems shows financial rehabilitation Current Performance: Clean recent credit history helps applications Income Growth: Improving day rates show a positive financial trajectory
Credit problems often stem from past circumstances – business failures, relationship breakdowns, or temporary financial difficulties. Your current contractor success demonstrates your true financial capability.
Specialist lenders understand that past credit issues don’t predict future mortgage performance when backed by strong, consistent contractor income. Your day rate shows your current market value and earning reliability.
Don’t let past financial difficulties prevent you from accessing homeownership or remortgaging opportunities you’ve earned through contracting success.
Detailed review of credit issues alongside current contractor earning capacity to identify optimal lender strategy.
Access adverse credit specialists who understand contractor income and use contract-based underwriting.
Prepare applications highlighting income strength and explaining credit issues in context.
Specialist lenders use individual assessment rather than automated credit scoring systems.
Often achieve approvals that high street lenders would automatically decline.
Ans: Yes, many specialist lenders accept CCJs, especially when offset by strong contractor income and reasonable deposits.
Ans: Rates will be higher than prime products, but often competitive considering the credit circumstances. Strong day rates help secure better terms.
Ans: Usually 3-4 years post-discharge, sometimes sooner with exceptional contractor income and larger deposits.
Ans: Typically yes. 25-30% deposits are common for adverse credit cases, but some lenders accept 15-20% for minor issues.
Ans: Strong contractor income significantly helps applications. Lenders recognise current earning capacity often outweighs historic issues.
Ans: Unlikely during an active IVA, but possible shortly after successful completion with specialist lenders.
