Mortgage application working for umbrella company Mortgage application working for umbrella company
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  1. #1

    Nervous Newbie

    kysto has no reputation

    Join Date
    Jul 2017

    Default Mortgage application working for umbrella company


    I'm an IT contractor, I've been in the industry for around 4 years and recently made the move to contracting. I'm 4 months into my first contract and looking to buy a house, I've found a house have deposit etc but I'm worried about making a formal offer as I don't want to let the seller down by being knocked back for a mortgage.

    I've spoken to an advisor who thinks I should be fine, as my payslip doesn't indicate I'm a contractor and the lenders don't ask the specific question...

    I'm wondering if anyone else who is working for an umbrella company has had issues sourcing a lender for a mortgage? The majority of my pay is commission based but my advisor said that shouldn't be an issue as it's consistent across all pay slips so they will just take an average. My worry is that if they dive deeper into the Umbrella company then my application could get rejected - it will be a joint application, my partner is self employed but has 2+ years of successful accounts etc so don't see any issues there.

    Any advice would be appreciated.

  2. #2

    My post count is Majestic

    northernladuk is always on top

    northernladuk's Avatar
    Join Date
    Mar 2009


    You are employed so shouldn't be any more of a problem than anyone else who is employed. Everything looks OK on the face of what you've put.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  3. #3

    Contractor Among Contractors

    CoolCat has more data than eek

    Join Date
    Oct 2012



    a ring, and be open and honest

    if you are honest and they give you a certificate of mortgage ready then thats fine

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