Can IT Contractors Get Better Mortgage Deals?

Can IT Contractors Get Better Mortgage Deals?

Blog Article

If you work as an IT contractor, you might be wondering whether your profession gives you an edge when it comes to securing a mortgage. The good news? Yes—it can. IT contractors are often viewed favourably by specialist lenders due to their strong earning potential and consistent demand in the tech industry.

Here’s why you might be able to secure a better deal than you think.

Why Lenders Like IT Contractors
High daily rates compared to many other industries

Generally strong contract history and low risk of unemployment

Skills are in-demand and transferable across sectors

Many IT contractors operate in stable industries like finance, telecoms, and government

Because of this, specialist lenders are more likely to offer flexible terms and competitive rates to IT professionals.

How Income Is Assessed
Lenders who understand IT contracting typically calculate your income like this:

Daily rate × 5 days/week × 46–48 weeks/year

Example: £500/day × 5 × 48 = £120,000 annual income

This approach often results in a higher borrowing capacity than if you were assessed purely on salary and dividends from your limited company.

What You Need for Approval
A current contract with at least 3 months remaining

Ideally, 12+ months of contracting experience (though some lenders accept less)

A clean credit record

Consistent work history (or similar roles in permanent employment prior to contracting)

How to Get the Best Deals
Work with a contractor mortgage specialist

Aim for a larger deposit (10–20%) to unlock better rates

Keep your contract paperwork and bank statements ready and well-organised

Final Thoughts
IT contractors are often in a strong position to secure excellent mortgage deals—especially with the right advice. Lenders see your profession as high-value, and that can translate into better rates and higher borrowing potential.

At Contractor Mortgage Solutions, we work closely with IT contractors to ensure they get access to the best possible mortgage offers.