A Day rate contractor? Watch the video below...
Are you a day rate contractor for project work within one of the following sectors: IT, Banking, Engineering, Oil/Gas, Management, Medical, Legal or Other ?
Like most contractor clients, you may typically earn a rate per day x5 days per week over the period of the fixed term contract, however contractors have various options to structure their income be it through a limited company or an umbrella company. So their taxable pay can be much less than the gross day rate they invoice or annual turnover of the limited company.
Most High Street Lenders insist on using your salary and dividend income as the basis upon how much you will be able to borrow.
However, we work with specialist lenders who understand that your gross Day Rate is the basis upon which lending can be provided irrespective of how much income ( Salary & Dividends) is taken from your limited company or umbrella structure.
Have a look at a recent Case Study: