Hello everyone,
Let’s talk about something I’m seeing more and more of in our community and something I’ve been quietly cheering on for over a decade.
Women are contracting. Not tentatively. Not apologetically. But with skill, confidence and a very clear sense of “I’m doing this my way.”
Every time I meet a woman contractor, I remember her. The day rate she pushed for. The project she nailed. The moment she backed herself. And I honestly think - go you!
When I first started looking after contractors’ mortgages 13 years ago, there were only a tiny handful of lenders who would even consider using a day rate. It was niche, specialist, and honestly a bit of a fight. Most lenders simply didn’t understand contracting.
Over time more lenders have caught up. Underwriters started building contractor‑specific criteria, but they still have many different rules to navigate for a contractor’s circumstances depending on each lenders own risk appetite.
And because I’m not about leaving anyone out, a small number of lenders will work on contracts not in sterling as long as it goes into a UK bank account. That’s a whole different flavour of underwriting, but it’s absolutely doable with the right lender.
But independence comes with questions. Especially around mortgages.
Here are the things women ask me most often:
“What if I have gaps between contracts.”
“What if I’m inside IR35, does that ruin everything.”
“How long do I need to be contracting before lenders take me seriously.”
“Will going self‑employed stop me getting a mortgage.”
These aren’t dramatic worries. They’re normal.
Becoming self‑employed is exciting, but it also comes with uncertainty. You’re stepping away from the comfort blanket of a payslip and into a world where you call the shots. Liberating, yes. Scary, also yes. And I get it, I’ve taken the leap too. The fear is real, but so is the freedom.
And while we’re talking about financial independence, I’m going to say something that contractors don’t hear enough: your protection matters just as much as your mortgage.
When you’re self‑employed, you don’t have sick pay, death‑in‑service benefits, or a corporate safety net. If something happens, it’s your family who feels it. Protection isn’t about fear it’s about responsibility. It’s about making sure the people you love are financially secure, even if life throws something unexpected your way.
Making sure your income, your health, and your family are protected is part of knowing your worth too.
Our financial freedom is still new. Very new.
Until 1975, women in the UK couldn’t open a bank account, apply for a mortgage or access credit without a man’s signature.
1975!!
Not ancient history. Within living memory.
So when women choose contracting today, you’re not just choosing a career path. You’re continuing a generational shift toward independence that was denied to the women before us.
I understand this from inside the mortgage industry too.
The mortgage world is still overwhelmingly male. Women make up around 30% of mortgage brokers in the UK up from 21% a decade ago. Progress, yes. Balance, not yet.
And just to be clear, I’m not anti‑men. I live with one - a perfectly lovely human who knows how to work the washing machine but didn’t own a decent set of DIY tools until I arrived. The mortgage industry is still very male, and that absolutely reflects how women feel when they step into contracting.
When women contractors come to me feeling unsure or intimidated about how lenders will view their income, I understand exactly where that feeling comes from. You’re navigating independence in your career and stepping into a financial system that wasn’t built with women in mind.
Which is why knowledge matters.
Let’s clear something up: contracting does NOT end your mortgage options.
But it does mean you need to work with someone who understands how contractor lending actually works because it’s full of quirks, inconsistencies and lender‑specific rules.
Here’s what lots of women don’t know:
Lenders can lend using your contractor day rate. Many contractor‑friendly lenders will take your day rate, multiply it by 5 days, then by 46–48 working weeks to calculate your annualised income. This often results in higher affordability than using salary/dividends. A £650 day rate can be evidenced as an income of £156,000 rather than the much lower salary and dividends draw from a limited company.
Other quirks include:
Some lenders want 12 months’ history. Some accept six.
Some are fine with gaps. Some aren’t.
Some treat inside IR35 like PAYE.
Some treat outside IR35 like limited company income.
Some take multiple contracts. Some won’t.
It’s messy. It’s inconsistent. And you shouldn’t have to decode it alone.
This is where specialist advice becomes your advantage.
My job is simple: Translate your contracting world into something lenders understand.
I help women contractors by explaining clearly how your income will be assessed preparing your application so it reflects your true earning potential navigating gaps, renewals, extensions and contract changes identifying lenders who understand IR35, day rates and limited company structures giving you clarity instead of confusion
Contracting doesn’t close doors. It simply requires the right route through them.
You can be independent, self‑employed and mortgage‑ready.
According to ONS data, more women are choosing self‑employment than ever before, with female self‑employment rising steadily over the past decade. But while women are embracing independence in their careers, the mortgage system hasn’t fully caught up. Many lenders still favour linear PAYE income, even though women are far more likely to work flexibly, contract, freelance or juggle multiple income streams. The rise in female self‑employment is real but so is the need for specialist advice to translate modern income patterns into something lenders understand.
Women who contract are building careers on their own terms, careers with flexibility, financial strength and autonomy. Your mortgage plans should support that independence, not undermine it.
If you’re contracting, thinking about contracting, or simply want clarity on how lenders will view your income, I’m here. A short conversation can turn uncertainty into confidence.
Your independence is your strength. Your career is yours to shape. And your mortgage can be too.
Give me a shout if you’d like to have a chat about your options. You can find me here: www.reddeermortgages.co.uk
(Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
There may be a fee for mortgage advice. The precise amount of the fee will depend on your circumstances.)
Thanks for having me Women Who Contract. Speak soon,