Contractor day-rate income
Case-by-case
Umbrella company income
Yes
Limited-company director income
No
| Criteria | Verdict | Detail |
|---|---|---|
| Contractor day-rate income | Case-by-case | — ×5×52 for UMBRELLA/fixed-term contractors ONLY; PSC/own-Ltd routed to 2-year self-employed accounts |
| Day-rate income | Yes | — |
| Contract-based income (first-timer) | Yes | — |
| Umbrella company income | Yes | — ×52; 12mo FTC history |
| Limited-company director income | No | — Self-employed route, 2yr accounts |
| CIS income | Case-by-case | — |
| Fixed-term contract income | Yes | — ×52 |
| Max LTV (standard) | Yes |
|
Source: lender intermediary criteria, every row verified on or since 2026-07-13 (most recent check 2026-08-19). 1 row carries no verification date and is shown as published by the lender without a dated check. Criteria change frequently — always confirm current policy with the lender or a broker.
Adviser's view
Nationwide contractor mortgage criteria at a glance
- Umbrella and fixed-term contractors: day rate × 5 days × 52 weeks, 12 months' history required
- Limited company / PSC contractors: assessed as self-employed on two years' accounts
- CIS: by referral
- Maximum LTV: up to 95% on the headline range, lower for larger loans
Nationwide's day-rate calculation is more targeted than most: the five-times-fifty-two-week multiplier — the most generous week count on our panel — is reserved for umbrella and fixed-term contractors only, with twelve months' history required. Contractors operating through their own limited company or as a personal service company don't get this route at all; Nationwide assesses them as self-employed instead, on the standard two years' accounts basis, which is a meaningfully longer track record to build up.
That split matters when choosing a lender: umbrella and fixed-term contractors get a genuinely favourable calculation here, while PSC and own-company contractors will find Nationwide slower going than lenders offering a direct day-rate route for limited company income. CIS income is considered on referral rather than as standard.
Lending runs up to 95% loan-to-value on the headline range, stepping down for larger loan sizes. The table above carries the current verified positions; given how much your treatment depends on contract structure here, confirm which route applies to you before applying with Nationwide.
FAQ
Does Nationwide do contractor mortgages?
Yes, with the most generous week-count on our panel — day rate × 5 × 52 weeks — but only for umbrella and fixed-term contractors with 12 months' history. Own-company and PSC contractors are assessed as self-employed on two years' accounts instead.
How does Nationwide's 52-week calculation compare?
It annualises a £400 day rate at £104,000 — £12,000 more than a 46-week lender — which is why it's often the strongest option for umbrella contractors, while being slower going for limited company contractors who don't qualify for it.