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Contractors can find it more difficult to get a mortgage than employed workers. But it is not necessarily impossible as long as you seek advice from a whole-of-market broker such as AWS. We know which lenders offer specialist contractor mortgages, taking your day rate into account when deciding how much you can borrow and multiplying that by the number of working days in the year to work out your annual income. You don’t necessarily need many years of accounts as long as you can show a reliable income from your contract and a history of same line work prior to contracting.
