Halifax contractor and self-employed mortgages

The smart choice for contractors and self-employed professionals.

Whether you’re a contractor, freelancer or a professional paid through a limited or umbrella company, you can access the benefits of a Halifax mortgage, the UK’s largest mortgage lender.

Halifax contractor mortgages

Halifax revolutionised the modern contractor mortgage landscape by being the first to consider 'day rates' over historical income for mortgage assessments and offering competitive mortgages for contractors. As the UK’s largest mortgage lender, Halifax welcomes applications from professionals with complex incomes, including day one contractors and sole traders.

Use our mortgage calculator

Eligibility

Halifax contractor mortgage criteria

Halifax assesses loans based on gross contract value when presented in the correct way, evaluating self-employed contractors in their first trading year or those under payroll and umbrella schemes through gross earnings. With evolving criteria mirroring labour market shifts, Halifax recognises that contractors are not inherently high-risk borrowers.

As part of the Halifax mortgage application process, contractors would normally be required to provide the following:

ID and proof of address
Evidence of income
Evidence of current contract
2 years’ bank statements
Proof of deposit
Latest bank statements

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

Halifax self-employed mortgages

Securing a mortgage while self-employed can be challenging, whether you’re a sole trader or part of a limited company. In line with Halifax’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

Halifax contractor mortgage FAQs

Can I get a Halifax umbrella mortgage?

Yes, Halifax has updated its contractor mortgage policies in line with the IR35 rules, accommodating contractors who work under umbrella companies. Whether you're considered self-employed or employed, Halifax's criteria factor in your specific circumstances, such as your income source and continuous employment history. Contact the Cleerly team for more information about the umbrella mortgage application process.

Who do Halifax use for credit checks?

Halifax tends to use TransUnion, Experian and Equifax for its credit checks.

How does Halifax define a contractor for mortgage purposes?

Halifax considers a contractor to be anyone who works on a contract basis and pays tax either via self-assessment, limited company or through an umbrella company.

How do Halifax contractor mortgage rates compare to other lenders?

Halifax tends to have some of the most competitive mortgage rates in the market. The good news is that as a contractor you will have access the same great rates they have for all. For more information on the rates Halifax offers, contact us on 02394 212912.