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    • About Us
    • what do we do
    • Services
      • Insurance Services
      • Wealth Management
      • Residential Mortgages
      • Commercial Mortgages
    • Specialist Services
      • Commercial Insurance
      • Asset Finance
      • Commercial Finance
      • Life Insurance
      • New Products
    • News
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    • Contact Us
    • Jobs at Thornwood
Thornwood Associates
  • Home
  • About Us
  • what do we do
  • Services
    • Insurance Services
    • Wealth Management
    • Residential Mortgages
    • Commercial Mortgages
  • Specialist Services
    • Commercial Insurance
    • Asset Finance
    • Commercial Finance
    • Life Insurance
    • New Products
  • News
  • Blogs
  • Contact Us
  • Jobs at Thornwood

Commercial Mortgages

As the trend of large financial institutions employing staff on a contractor basis grows, Thornwood Associates has seen a significant increase in enquiries from this sector. While most UK lenders are hesitant to provide loans to contractors, several lenders specialize in this market with varying criteria and calculations.

It is crucial to approach the right lender first to avoid negatively impacting your credit score with unsuccessful applications.


Although your daily rate might meet the lending criteria, other factors could disqualify you. A consultation to discuss your needs and overall situation is highly recommended and will be time well spent. We especially advise contractors to obtain an Agreement in Principle (AIP) before investing time in pursuing their ideal property.


Interestingly, the terms for contractors are often less stringent than for the self-employed. You can secure terms with as little as one year (or sometimes even less) of contracting history.


The lending calculation typically looks like this:


(Daily pay rate) x 5 x 48 (working weeks in the year)

We encourage you to contact Thornwood Associates when you're ready to explore your options so that we can:


  • Protect your Credit Score
  • Save you significant time and unnecessary hassle
  • Equip you with an accurate and valuable Agreement in Principle


For more information, please contact Thornwood Associates on 07703 346177 /  07983 618575 or simply drop us an email at hello@thornwoodassociates.co.uk



Copyright © 2024 Thornwood Associates Limited - is a company registered in England and Wales. Registered number:  11804451 Registered office address: 3 Guild Way, South Woodham Ferrers, Chelmsford, Essex, England, CM3 5TG  All Rights Reserved.

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