Contractor Mortgages

Do you work on short-term contracts? Many lenders see you as ‘high risk’ and this may make it hard for you to get a mortgage.

At Saffron, we specialise in mortgages for people who don’t fit the standard criteria and that includes people on short-term contracts or day rates. Our Contractor Mortgages are designed to be flexible and your Mortgage Adviser will be happy to assess your income on day rates and take long-term prospects into consideration. With our variable rate products you can even pay off capital and benefit from a lower rate which can help you pay off your mortgage faster.

Whether you’re buying for the first time, moving home or remortgaging, talk to us about our specialist mortgages for Contractors.

  • Designed specially for the those on short-term contracts and day rates
  • First time buyers can apply
  • Reduced rate on variable rate products if your balance drops into a lower loan-to-value band
  • Expert help from our friendly Mortgage Advisers

Your home may be repossessed if you do not keep up repayments on your mortgage

Our contractor mortgages

Contractor Three Year Discount Mortgage

  • Initial rate2.39% Variable
  • then changing to our SVR minus 1.00%4.39%
  • The overall cost for comparison is4.0% APRC
  • Product periodthree years
  • Deposit required40%
  • Arrangement fee£499
View this mortgage ViewRepresentative Example

A mortgage of £152,242 payable over 25 years, initially on a Discounted rate for 3 years at 2.39% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.39% (variable) for the remaining 22 years, would require 36 monthly payments of £674.58 and 264 monthly payments of £818.39.

The total amount payable would be £240,604.84 made up of the loan amount plus interest (£88,397.71), an application fee of £135 and a redemption fee of £130.

The overall cost for comparison is 4.0% APRC representative.

Contractor Three Year Discount Mortgage

  • Initial rate2.69% Variable
  • then changing to our SVR minus 1.00%4.39%
  • The overall cost for comparison is4.1% APRC
  • Product periodthree years
  • Deposit required20%
  • Arrangement fee£499
View this mortgage ViewRepresentative Example

A mortgage of £152,242 payable over 25 years, initially on a Discounted rate for 3 years at 2.69% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.39% (variable) for the remaining 22 years, would require 36 monthly payments of £697.64 and 264 monthly payments of £821.35.

The total amount payable would be £242,216.44 made up of the loan amount plus interest (£90,009.31), an application fee of £135 and a redemption fee of £130.

The overall cost for comparison is 4.1% APRC representative.

Contractor Three Year Discount Mortgage

  • Initial rate3.29% Variable
  • then changing to our SVR minus 1.00%4.39%
  • The overall cost for comparison is4.2% APRC
  • Product periodthree years
  • Deposit required10%
  • Arrangement fee£499
View this mortgage ViewRepresentative Example

A mortgage of £152,242 payable over 25 years, initially on a Discounted rate for 3 years at 3.29% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.39% (variable) for the remaining 22 years, would require 36 monthly payments of £745.12 and 264 monthly payments of £827.05.

The total amount payable would be £245,430.52 made up of the loan amount plus interest (£93,223.39), an application fee of £135 and a redemption fee of £130.

The overall cost for comparison is 4.2% APRC representative.

Contractor Two Year Fixed Rate Mortgage

  • Initial rate3.17% Fixed
  • then changing to our SVR minus 1.00%4.39%
  • The overall cost for comparison is4.3% APRC
  • Product periodFixed until 28/02/2021
  • Deposit required20%
  • Arrangement fee£999
View this mortgage ViewRepresentative Example

A mortgage of £152,742 payable over 25 years, initially on a Fixed rate for 2 years 7 months at 3.17% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.39% (variable) for the remaining 22 years 5 months, would require 31 monthly payments of £737.90 and 269 monthly payments of £830.17.

The total amount payable would be £246,191.87 made up of the loan amount plus interest (£93,449.74), an application fee of £135 and a redemption fee of £80.

The overall cost for comparison is 4.3% APRC representative.

Contractor Two Year Fixed Rate Mortgage

  • Initial rate3.67% Fixed
  • then changing to our SVR minus 1.00%4.39%
  • The overall cost for comparison is4.4% APRC
  • Product periodFixed until 28/02/2021
  • Deposit required10%
  • Arrangement fee£999
View this mortgage ViewRepresentative Example

A mortgage of £152,742 payable over 25 years, initially on a Fixed rate for 2 years 7 months at 3.67% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.39% (variable) for the remaining 22 years 5 months, would require 31 monthly payments of £778.66 and 269 monthly payments of £834.12.

The total amount payable would be £248,516.36 made up of the loan amount plus interest (£95,774.23), an application fee of £135 and a redemption fee of £80.

The overall cost for comparison is 4.4% APRC representative.

Talk to us today

To arrange an appointment with one of our Mortgage Advisers call us free on:0800 072 1100or complete the form below:

Does at least one applicant have an income?


Do you have a deposit (or equity in property) of at least 5% of the property value?


Do you own your current residential property (with or without a mortgage)?


Do you have a deposit (or equity in property) of at least 20% of the property value?


Thank you for your enquiry.

A Mortgage Adviser will be in contact with you within 1 working day.

Have you heard the one about the doctor?

When Ann Smithson decided to buy a house in Cambridge, she knew she had set herself a tough challenge. The issues she had to overcome weren’t simply to do with the availability and price of properties in this sought after city, but were also to do with obtaining a mortgage.

Find out more

Support for people who are self-employed or contracting

We have a range of specially designed mortgages for individuals working on short-term contracts and the self-employed.

Find out more