Working as a contractor via an umbrella company offers convenience and compliance, but when it comes to mortgages, it can get complicated. Many lenders treat you like a standard employee and ignore your full earning potential, making it harder to borrow what you deserve.
At Mortgage Knight, we understand umbrella structures. Whether you’re working inside IR35, on fixed-term PAYE contracts, or earning bonuses, commissions, or overtime, we’ll help present your income clearly, so lenders see the full picture.
We arrange mortgages for:
Many lenders:
We work with lenders who understand how umbrella contractors are paid, and assess your affordability using your real income, not just your payslip’s basics.
We have lenders who:
We make your application fit the lender, not the other way around.
Depending on your setup, we can use:
Status: Priya worked as a healthcare contractor on a rolling contract through an umbrella company. Her payslips varied due to overtime and weekend shifts.
Challenge: Lenders only considered her base salary, offering low borrowing.
Solution: We used her 6 months’ payslips and bank statements to prove her actual gross income.
Outcome: Priya was approved for a £295,000 mortgage and fixed her repayments for 5 years.
Status: Jon had been contracting through an umbrella company for over a year, renewing every 12 weeks.
Challenge: Lenders didn’t like the short contract length.
Solution: We used his contract history and current umbrella income to show continuity.
Outcome: Jon secured a 90% LTV mortgage with no early repayment charges.
Status:Emma worked on a consultancy contract and received a basic rate plus monthly bonuses.
Challenge: High street banks ignored the bonus element.
Solution: We averaged her last 6 months of payslips, including bonuses, and submitted to a flexible lender.
Outcome: Emma was approved for a £375,000 home loan based on her actual income.
Your umbrella setup shouldn’t be a barrier—it should be a bridge. With the right broker and the right lender, getting a mortgage on umbrella income is completely possible.
Contact Mortgage Knight today for tailored mortgage advice that works with your pay structure, not against it.
A: Yes. We work with lenders who understand umbrella pay structures, and will assess your gross income, not just your basic salary.
A: Typically:
Last 3–6 months of payslips
Most recent P60 (if available)
Bank statements showing salary credits
Your contract or assignment letter
ID, proof of deposit and address
A: We can average your income over several months, or use your contract rate to calculate affordability. Some fluctuation is fine.
A: No. Once we structure the application properly, many umbrella contractors access high-street and competitive rates.
A: Sometimes, yes—especially if you were previously in the same field, or have a strong employment history.
