Skipton Building Society is one of the UK’s best-known mutual lenders, with specific criteria designed for contractors. Unlike lenders that demand years of accounts, Skipton can assess your affordability using your contract value (day rate × 46 weeks) — making them a strong option for contractors looking to secure a mortgage.
At Mortgage Knight, we know exactly how Skipton underwrites contractor applications, so we’ll package your case to maximise approval chances and access competitive high-street deals.
Profile:£400, limited company director.
Challenge: Only 7 months of contracting history.
Solution:Mortgage Knight packaged his contract and CV to evidence continuity from his previous perm role.
Outcome: Approved at 80% LTV, fixed 5-year mortgage with Skipton.
Profile: Locum nurse, umbrella company, regular payslips.
Challenge: Unsure if umbrella income would count.
Solution: We annualised her day rate and provided payslips to show consistency.
Outcome:Skipton approved at 85% LTV, enabling Priya to buy her first home.
Profile: Contractor with multiple contract renewals, seeking capital raise.
Challenge: Previous broker insisted on 2 years’ accounts.
Solution: We presented contract renewal history and bank statements to evidence stability.
Outcome: Skipton approved at 75% LTV for a remortgage, releasing funds for home improvements.
No, they prefer at least 6 months’ history or prior industry experience.
By annualising your day rate × 5 × 46 weeks, not 52 weeks.
Up to 95% LTV, though lower LTVs may secure better rates.
Yes — Skipton accepts umbrella contractors with payslips and contract evidence.
Not always. If you can show a strong contract and stable history, they can lend without 2 years’ accounts.
We’ll calculate your borrowing based on Skipton’s day-rate formula, package your case to fit their policy, and compare other contractor-friendly lenders too.
