Accord contractor and self-employed mortgages

Establishing itself as one of the leading lenders for contractors and self-employed professionals

Accord has become increasingly contractor-friendly in recent years, accepting a wider range of applications from professionals with complex or multiple income streams.

Introduction


Accord contractor mortgages

An intermediary-only lender, Accord has recently taken steps to offer a more ‘common-sense approach to lending’ by partnering with a wider range of contractor mortgage brokers and reducing the amount of paperwork required during the application process.

Use our mortgage calculator 

Eligibility


Accord contractor mortgage criteria

To qualify for an Accord mortgage, contractors will need to have an income of at least £50,000 per annum or a rate of £300 per day. The lender has recently cut the minimum experience requirements for day rate contractors from 12 months to six months and will also consider day one contractors on an individual basis.

As part of the mortgage application, the following documentation will be required:

  • ID and proof of address
  • Evidence of current contract
  • Evidence of income
  • Latest bank statements
  • Proof of deposit


For more information on Accord’s lending criteria for contractors, speak to our specialist mortgage consultants today on 02394 212912.

Self-employed


Accord self-employed mortgages

In line with Accord’s lending criteria for self-employed professionals, borrowers would normally be expected to provide:

  • Previous two years’ SA302 forms and corresponding tax year overviews
  • ID and proof of address
  • Copy of current contract
  • Signed business accounts from previous two years

Cleerly has established a strong partnership with Accord, working together. 

Accord contractor mortgage FAQs

Accord will accept applications from umbrella contractors who meet the criteria, however, it is not always a straightforward process. If you are a professional paid through an umbrella company, contact the Cleerly team today to discuss your mortgage options.

Accord separates contractors into three categories:

  • Day rate contractors
  • Fixed rate contractors
  • Sole traders, Limited Company, PAYE and umbrella companies

Cleerly’s specialist mortgage consultants can break down the criteria for each category and advise on what to expect during the application process. Contact us on 02394 212912 for more details.

Like many lenders, Accord does not like gaps in contracting history, however this lender will allow a gap of up to eight weeks between contracts as standard, which is generous when compared to other lenders. They are also more prepared to take an individual view on the client’s circumstances, rather than a ‘one-size-fits-all’ approach which is another reason they can be considered ‘contractor-friendly’.

Find out how much you could borrow with our Contractor Mortgage Calculator.

Securing a mortgage as a contractor or self-employed professional is rarely straightforward. That’s why your best chance of securing a mortgage offer from Accord is to work with a specialist contractor mortgage broker. Cleerly’s mortgage consultants are experts in contractor and self-employed mortgages, providing you with simple, jargon-free advice and helping you to boost your chances of approval.

To discover how Cleerly can help you, call us today on 02394 212912.

Ready to make the move?

Cleerly’s mortgage consultants are experts in the field of contractor and self-employed mortgages and can guide you through the process to enhance your chances of approval.

For more information on Accord's lending criteria for contractors, contact our contractor mortgage consultants today on 02394 212912.