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Every Mortgage Tells A Story: Contractors - short work history

Vida Homeloans is the award-winning specialist residential and buy to let lender for customers who may not fit the criteria currently demanded by high street lenders. Every mortgage tells a story; tell us your customer’s.

Meet Lauren. She is a self-employed graphic designer who has been working on short term contracts since leaving university a few years ago. She rents with friends but her dream home would be a New Build flat. She’s been saving hard and will also have support from her parents in the form of a gifted deposit. Lauren has just started a new six-month contract where she gets paid a daily rate, but she has recently missed a small payment to a credit card provider. Although she’s been turned down by a couple of high street lenders her broker knows that this is just the sort of case where Vida will listen to her story.


Why should you consider Vida for your contractor customers

  • For self-employed contractors, Vida will assess affordability based on 46 x weekly contract figure from ‘Day 1’ of the contract (on condition that it is for at least 6 months)
  • For employed contractors (where the employer pays both tax and NI) income is verified via payslips (as per employed applicants)
  • 25 years old and over: available up to 90% LTV
  • 21-24 years old: available up to 85% LTV
  • Gifted deposits accepted
  • Up to 40 year term available
  • All property types considered