Published 20 January 2021 · Last reviewed 20 January 2021 · Older article — see current rates
From Daily Rate IT Contractor to Zero Hour and Fixed Term Contracts
How do Contractor Mortgages work? | This is not a straight-forward answer so you must watch this video by mortgage expert Mr Payam Azadi in which he explores how Contractor Mortgages work in detail.
He drills right down to the nitty-gritty of multiple contract types and how they are viewed by Mortgage Lenders when assessing affordability. He covers fixed term contracts, the use of “daily rate” contracts in sectors such as IT and the legal profession, and “zero hour” contracts which now form part of the fabric of UK employment.
Niche Advice specialises in Contractor Mortgages which can be more complex often combining multiple lending criteria rules to find a suitable Contractor Mortgage product.