Contractor Mortgage Calculator
What can your day rate actually borrow?
A free calculator for UK day-rate contractors. Specialist lenders use your day rate, not your tax return — see what yours can borrow in 10 seconds.
Built on the criteria of 6 specialist UK lenders, current to April 2026
You Could Borrow
Specialist lenders apply different multiples and week-counts to your day rate. Here's how yours breaks down across their criteria.
Speak to a contractor mortgage specialist
Free, no obligation. We'll connect you with an FCA-regulated broker who specialises in contractor mortgages. They'll come back within one working day with the lenders whose criteria match your profile — and what each will offer.
Thank you.
A contractor-specialist mortgage broker will be in touch within one working day with the lenders that fit your profile. Expect an email and a phone call.
Lenders that use your day rate directly
Most high-street advisers can't help with day-rate income — their systems are built for permanent employees with payslips and P60s. These six lenders take your contract as the starting point. No two years of accounts, no awkward conversation about retained profit.
| Lender | Income Formula | Notes |
|---|---|---|
| Halifax | rate × 5 × 46 · up to 5× | Industry pioneer of contract-based underwriting. No minimum day rate for IT contractors. £326/day minimum for non-IT. |
| Skipton Building Society | rate × 5 × 48 · standard LTI | The 48-week outlier — produces the highest annualised income on the same day rate. Ignores IR35 status entirely. Above £50k/year only. |
| Aldermore | rate × 46 weeks | 95% LTV available for umbrella and fixed-term applicants. 1-month minimum on contract remaining. 12 months contracting history or 24 months in same field. |
| Kensington Mortgages | rate × 5 × 46 | £18,000 minimum annualised income — the lowest threshold in the market. Accepts adverse credit. Broker-only access. Operates in Northern Ireland. |
| Nationwide | varies · up to 5.5× | Inherited the Clydesdale Bank and Virgin Money mortgage book on 2 April 2026 following Court approval on 23 February. Higher earners reach 5.5×. |
| Bank of Ireland (Bespoke) | rate × 5 × 46 | "Five Golden Rules" contractor product. Comfortable with new-to-contracting applicants. Accepts umbrella, limited company, and self-employed. |
Common questions
From the criteria of the six contractor-friendly UK lenders.
Why is the answer a range and not a single figure?
Because there isn't a single right answer. Lenders diverge on two things: how many weeks they annualise your day rate over (most use 46 weeks; Skipton uses 48), and what income multiple they apply (4.5× as standard, 5× for higher earners, up to 5.5× with strong credit). On the same £500/day rate, the most conservative lender will offer around £517,500 and the most generous around £600,000. A calculator that returns one number is wrong for at least half the lenders in the market. Showing the range is the honest answer.
Do I need 2 years of accounts to get a contractor mortgage?
No. That's the line you'll get from a high-street branch, where staff are trained on permanent-employee paperwork. Specialist contractor lenders use contract-based underwriting: they look at your gross day rate, multiply it out, and lend against that — your accounts and SA302s aren't part of the calculation.
Halifax, Aldermore, Skipton and several others will lend to Day-1 contractors who have prior industry experience. The "2 years of accounts" rule only applies if you're being assessed as a generic self-employed applicant, which is the wrong route for most day-rate contractors.
Does IR35 status affect my mortgage?
Mostly, no — and pages that say otherwise are out of date. Halifax, Skipton, Aldermore, and the lender formerly trading as Clydesdale (now Nationwide) all assess your gross day rate the same way regardless of IR35 status. Skipton ignores IR35 entirely.
If you're inside IR35 paid through an umbrella, you'll provide payslips after employer NI and Apprenticeship Levy deductions; if you're outside IR35 in your own limited company, you'll provide the contract. Different paperwork, similar outcome. The "inside-IR35 contractors can't get mortgages" line dates from before the April 2021 reforms and isn't accurate today.
How much contract do I need to have left?
This is the single biggest filter on which lenders will work with you. Aldermore, Skipton, and a handful of others will accept as little as one month remaining if your contracting history is solid or you have a renewal letter. Halifax wants 4–6 weeks minimum, or written extension evidence. A few mainstream lenders prefer 3–6 months. If you've got 6+ months remaining, you have the widest choice; under 1 month and your options narrow. A signed renewal email from your client or agency goes a long way.
Limited company, umbrella, or sole trader — does it change what I can borrow?
For most contractor-friendly lenders, the same gross day rate produces the same borrowing assessment regardless of structure. The paperwork differs: limited company directors provide their contract; umbrella employees provide three months of payslips (with employer NI and Apprenticeship Levy added back to get to gross); sole traders typically need 12 months of trading history.
A few lenders cap LTV slightly differently — Aldermore allows up to 95% LTV for umbrella and fixed-term applicants, against 90% for limited-company self-employed. The rule of thumb: structure changes the documentation, not the maths.
Is the calculator and broker match really free?
Yes. The calculator costs nothing to use — no sign-up, no email gate. The broker match is also free with no obligation: you fill in the brief, an FCA-regulated specialist broker contacts you, and the initial conversation is at no cost. If you go on to take regulated mortgage advice from them, the broker will explain any fees that apply to that advice up front and in writing, so you can decide whether to proceed.