How much can an IT contractor borrow?

Up to 4.5-5.5x your annualised day rate with specialist lenders. A £500/day contractor could borrow £500,000+ with the right lender and deposit.

Do I need a minimum contract length remaining?

Some lenders prefer at least 3-6 months remaining on your current contract, but others are flexible — particularly in IT where contracts are frequently renewed.

What if I'm between contracts?

If you have a track record of continuous contracting, being between contracts doesn't necessarily prevent you from getting a mortgage. Some lenders are comfortable with applicants actively seeking their next contract.

Can I use retained profits from my company?

Yes, some lenders will consider retained profits alongside salary and dividends. This can significantly increase your borrowing capacity for limited company contractors.

IT Contractor Mortgages

IT contractors earn well but are often underserved by mainstream lenders. We find specialist lenders who assess your day rate, not just your payslip or accounts.

Mortgages for IT Contractors

IT and technology contractors typically earn significantly more than their permanently employed counterparts, yet mainstream lenders often undervalue their income. Whether you contract through a limited company, umbrella company, or as a sole trader, the right lender can assess your income based on your contract day rate — potentially borrowing 4.5-5.5x your annualised contract income.

Day rate assessment — borrow based on contract value
Limited company, umbrella, and sole trader contractors accepted
IR35 inside and outside contract arrangements understood
Lenders familiar with tech sector contract patterns
100% fee-free IT contractor mortgage advice

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Annual Household Income (£)

Your home may be repossessed if you do not keep up repayments on your mortgage.

Day Rate Assessment

Specialist contractor lenders calculate your income by multiplying your daily rate by the number of working days in a year (typically 228-240 days). A contractor on £600/day could be assessed at £136,800-£144,000 annual income, compared to the much lower figure a mainstream lender might use from limited company accounts or umbrella payslips.

Limited Company vs Umbrella

If you contract through a limited company (outside IR35), lenders can assess your day rate directly. For umbrella company contractors (often inside IR35), some lenders use the umbrella payslip while others still apply day rate calculations. The difference in borrowing capacity can be substantial.

Contract Gaps and History

IT contractors often have gaps between contracts. Most specialist lenders are comfortable with this, provided you have a track record of 12+ months of contracting. Some accept just 6 months for experienced professionals. Short gaps (1-4 weeks) between contracts are standard and rarely cause issues.

Deposit Requirements

IT contractors can access the same deposit levels as employed applicants — from 5% upwards. With higher incomes, tech contractors often have larger deposits available, unlocking better rates. First-time buyer schemes and shared ownership are also available.