Contractor day-rate income
Yes
Umbrella company income
Case-by-case
Limited-company director income
Case-by-case
| Criteria | Verdict | Detail |
|---|---|---|
| Contractor day-rate income | Yes | — ×5×48 — the highest multiplier; flexible history, <12mo w/ CV considered |
| Day-rate income | Yes |
|
| Contract-based income (first-timer) | Yes | — |
| Umbrella company income | Case-by-case | — Secondary |
| Limited-company director income | Case-by-case | — |
| CIS income | Yes | — Complex-income |
| Fixed-term contract income | Yes | — |
| Max LTV (standard) | Yes |
Purchase only |
Source: lender intermediary criteria, every row verified on or since 2026-07-13 (most recent check 2026-08-19). Criteria change frequently — always confirm current policy with the lender or a broker.
Adviser's view
Kensington contractor mortgage criteria at a glance
- Income basis: day rate × 5 days × 48 weeks — the most generous multiplier on our panel
- Track record: under 12 months considered with a consistent CV
- New contract: first-contract starters accepted
- CIS and fixed-term: accepted as standard
- Umbrella / limited company: secondary or referral basis
- Maximum LTV: 95% (purchases only — check remortgages separately)
Kensington runs the most generous day-rate multiplier on our panel — five times forty-eight weeks rather than the more typical forty-six — and takes a genuinely flexible view of history: contractors with less than twelve months' track record can still be considered where a CV demonstrates a consistent career in the field. It also accepts applicants moving straight into a new contract, which many mainstream lenders won't touch.
As a specialist lender built around complex income, Kensington accepts CIS earners comfortably and fixed-term contract workers without issue. Umbrella company income and limited company director cases are both handled, though on a secondary or referral basis rather than as a standard automatic route, so expect a bit more underwriter discretion involved. Lending runs up to 95% loan-to-value, though that maximum applies to purchase cases only — remortgages should be checked separately.
The table above has the current verified positions; Kensington's flexibility on history makes it worth considering for newer contractors, but confirm the specifics of your case before applying.
FAQ
Does Kensington do contractor mortgages?
Yes, with the most generous multiplier on our panel: day rate × 5 × 48 weeks, up to 95% LTV on purchases. Contractors with under 12 months' history can be considered where a CV shows a consistent career, and first-contract starters are accepted.
Who suits Kensington's contractor route?
Newer contractors and complex cases: CIS earners and fixed-term workers are accepted as standard, and the 48-week annualisation assesses a £400 day rate at £96,000 — £4,000 more than a 46-week lender — before affordability is applied.
This check doesn't yet use day-rate income — see the lender tables for how each lender works it out.
From our sister site Mortgage Affordability. Open the check in a new tab.