Ask the Specialist

Capital Fortune are asked to help clients on a daily basis, whether it be with a new purchase, remortgage, buy to let or something more unusual. We typically help clients with non-standard, unusual or complex situations and have created this section to allow you to ask our team of specialists any question you may have. Feel free to browse the list of questions and responses. Please note we provide information only in response to the questions posed and not advice. If you do seek advice then feel free to speak to one of our Advisers by calling 0207 710 0400 or send us an enquiry online and one of our Advisers will call you back.

Can I Get a Mortgage with a 6 Month Contract History?

on 07 March 2014.

I am interested in a mortgage, however I just started contracting last year in August.

Prior to this, my business account was dormant for about 3 years.

Is it possible to get a mortgage with my contracting history?


Ask the Specialist response:

Thanks for sending in the query.

It is a very good question and it maybe something we can assist with. We have helped clients in similar situations previously.

Usually we find that clients coming to us with a short contracting history are performing the same role they did previously as an employee and they have recently decided to go self employed to give them more income/flexibility.

However, as everyone's circumstances are unique, the answer is really going to be dependant on a number of factors such as:

  1. When you current contract expires and whether it has been renewed - ideally (but not essentially) the contract should run for as long as possible and have been renewed once 
  2. How much you are looking to borrow, the purchase price and the deposit you are able to put down
  3. What you were doing prior to contracting and whether your previous employment was in a similar line of work to your contract
  4. Any debts or other financial commitments you have
  5. Your credit history
  6. Your age

Depending on the answers to the above their maybe a few lenders who are willing to consider a mortgage for you based on your contracting and employment history.

To obtain an indication on a contractor mortgage rate you can either check our selection of contractor mortgage rates or alternatively I'd recommend speaking to one of our Advisers on  0207 710 0400 or send us an enquiry online.

David Rostron MEng(Hons) CeMAP CeRER
Business Manager