NatWest contractor mortgages
NatWest is a contractor-friendly mortgage lender that recognises the growing demand from the UK’s flexible workforce. As part of the RBS Group, NatWest sets high standards for contractors in order to guarantee reliable and responsible lending. However, our special partnership with this lender allows us to explore a wider range of contract-based mortgage options than you might find in a typical branch.
Eligibility
NatWest contractor mortgage criteria
Tailored for top-earning contractors, NatWest has established itself as a go-to lender for those in the contracting community who earn a minimum day rate of £326, or an annualised gross income of £75,000. The lender also accepts applications from UK-based contractors paid in alternative currencies.
NatWest’s stringent approach serves to mitigate risk, positioning the bank as a secure yet exclusive mortgage option for contractors who meet these specific financial criteria.
As part of the mortgage application, the following documentation will be required:
- ID and proof of address
- Evidence of income
- Evidence of current contract
- Proof of deposit
- Latest bank statements
For more information on NatWest’s lending criteria for contractor mortgages, get in touch with our specialist mortgage consultants today on 02394 212912.
NatWest self-employed mortgages
In line with NatWest’s lending criteria for self-employed professionals, borrowers would normally be expected to provide:
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Previous two years’ SA302 forms and corresponding tax year overviews
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ID and proof of address
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Copy of current contract
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Signed business accounts from previous two years
NatWest contractor mortgage FAQs
NatWest defines contractors as professionals who work on a temporary basis for different clients or companies, often with specific contracts for a set period of time.
NatWest considers you to be self-employed if you currently own a 20% share or more in a business that contributes the majority of your income.
Getting a mortgage as a contractor working through an umbrella company is possible with NatWest but comes with challenges. To boost your chances, contact the Cleery team today who discuss umbrella mortgage options available to you, based on your circumstances.
Despite their strict lending criteria, NatWest has become significantly more ‘contractor-friendly’ in recent years, offering some of the most competitive mortgage rates in the market. Find out how much you could borrow with our Contractor Mortgage Calculator.
Getting a mortgage as a contractor or self-employed professional can be challenging. That’s why the best way to get a mortgage offer from NatWest is to work with a specialist contractor mortgage broker. Cleerly’s mortgage consultants are experts in contractor and self-employed mortgages, guiding you through the process to boost your chances of approval.