First-Time Buyer Day-Rate Contractor Secures 95% Mortgage for £600k Property
Told to wait two years for accounts, a software developer on a £575 day rate bought his first home instead. A high street contractor policy annualised the rate to £132,250 and lent £570,000 at 95% LTV, roughly 4.3x, with his renovation fund intact.
Consultant Contractor Secures £1.1m Purchase Using Day-Rate Assessment at 75% LTV
Management consultant contractor on £650/day (PSC), two-month gap, and IR35 scrutiny. We used day-rate modelling, a credible gap narrative, and an accountant’s letter to align with mainstream policy—achieving approval at 75% LTV on a £1.1m home.
Day‑Rate Contractor Mortgage: Using Day‑Rate To Maximise Affordability
With renewals and short gaps, this IT contractor needed day‑rate treatment. We evidenced continuity, explained the gaps, and matched them with a lender that assesses on day‑rate—securing borrowing aligned to realistic annualised earnings.
Contractor with 6 Months’ Experience Secures £540k Mortgage on £650k Home
A contractor with only six months’ experience and no accounts was told to wait. We used day rate × 5 × 46 to evidence income and secured 5x that figure — delivering a £540k mortgage on a £650k home so he could buy now instead of delaying.