Contract Workers Mortgages
As we see more and more people taking up work as a "contractor" it begs a more frequent question about can I still obtain a mortgage. The answer is Yes with the correct advice and guidance.
Lothian Mortgage Services comes with a wealth of experience with dealing with all different types of contract workers. Please get in touch today for a free no obligation discussion
Types of contract workers
- Umbrella Companies
- Agency Workers
- Employed fixed contract and short term contracts
- Zero Hour Contracts
- Self Employed
Examples of Contract workers
- People who are paid and taxed by a recruitment company on short term contracts.
- Sole Traders that are self-employed and submit self assessment forms to Inland Revenue'
- Limited companies are often sole traders whose business income and turnover has made it
- Beneficial for tax reasons to set up a Limited company.
- Umbrella Company often a sole trader who for tax purposes use the Limited company for Tax
- Efficiency but are paid and taxed by a third party the "umbrella company'.