If you’re searching for a Lloyds contractor mortgage, here’s the context that matters. Lloyds Banking Group has announced it is retiring the Halifax brand and bringing its UK retail banking under the Lloyds name — including its intermediary mortgage business, with Halifax Intermediaries set to become Lloyds Intermediaries from early 2027. Existing Halifax mortgages migrate to Lloyds branding, and the broker route through which contractors are placed continues. In short: the lender isn’t going anywhere, and neither is the lending. It’s the name on the door changing.
That matters for contractors specifically, because Halifax has long been the pioneer of day-rate contractor lending — the first mainstream lender to assess a contractor on the contract rate rather than demanding years of accounts. That proposition moves with the business to the Lloyds brand. This page explains how contractor income is assessed under it, what the transition means for you, and — honestly — what to confirm as the brands come together, because exact criteria are always confirmed live at application and may be reviewed through a change of this size.
The change is a brand consolidation, not a withdrawal. Halifax and Lloyds have both been part of Lloyds Banking Group for years; the group is now unifying its retail and intermediary mortgage business under the single Lloyds name. For a contractor, the practical picture is continuity:
So a contractor asking “is there a Lloyds contractor mortgage?” is really asking about the same lending they’d have known as Halifax, under a new name. The sensible thing is to understand how that proposition assesses contractors — and to work with a broker who will confirm the live position as the transition completes.
The proposition moving to Lloyds assesses contractors on an annualised day rate rather than on drawings or accounts, using the market-standard calculation:
Day rate x 5 days x 46 weeks = assessed annual income
Five days is a normal working week; 46 weeks (rather than 52) builds in a realistic cushion for holidays and gaps between contracts. That assessed figure is then multiplied by an income multiple to set maximum borrowing. So a contractor on £500 a day is assessed on 500 x 5 x 46 = £115,000, whether they draw that as salary and dividends or keep it tax-efficiently in the company. The exact multiple and current criteria are confirmed live at application — and, given the brand transition, are worth confirming rather than assuming.
One distinctive feature of the Halifax contractor approach is worth understanding, because it decides whether many newer contractors qualify. The requirement has been two years in the same profession — not two years of contracting — and employed experience in that profession counts towards it. So an established professional who has just gone contracting can often qualify from their first contract, because the profession is well established even though the contracting is new.
This is the kind of criterion that a broker should confirm as live at the point of application, particularly through a brand transition — we don’t assume a rule is frozen. But it illustrates why the proposition has been so useful to contractors, and why it’s worth knowing how your case is likely to be read before you apply.
Illustrative only, using the standard method and a typical 4.5x multiple; your figure depends on the live criteria at application and your full circumstances.
Because the assessment works from the contract rather than drawings, a limited company contractor keeping a tax-efficient low salary is still assessed on the full day rate — the core advantage of day-rate lending, and the reason this proposition has been a first port of call for the textbook contractor case.
For most contractors the rebrand is a name change rather than a practical one. If you already hold a Halifax mortgage, it migrates to Lloyds branding without the underlying loan changing. If you’re applying, you’re accessing the same intermediary lending, soon under the Lloyds name. Your broker continues to place your case through the same channel.
The honest caveat is that a consolidation of this scale is a natural moment for a lender to review criteria, so nobody should treat today’s exact figures — income multiples, maximum loan-to-value, minimum day rate — as guaranteed to carry across unchanged. That’s not a reason for concern; it’s the normal reason to confirm the live position at application rather than relying on any published number. We track these changes as they happen and place each case on current criteria.
Two things. First, don’t be thrown by the branding during the transition — whether a product or portal still says Halifax or has moved to Lloyds, the lending is the same business, and a broker will know which is which at any given point. Second, as with any contractor mortgage, the outcome depends heavily on your case being assessed on the right figure and placed with the right lender for your profile — the brand on the badge is far less important than whether your day rate is read correctly. If your case has a complication — adverse credit, a very short history, a complex income shape — another lender may still fit better, and being whole-of-market we compare across the market rather than defaulting to one name, old or new.
Yes — in the sense that the contractor lending long known through Halifax is moving to the Lloyds brand as Lloyds Banking Group retires the Halifax name and rebrands its intermediary mortgage business as Lloyds Intermediaries. The same day-rate proposition, under a new name. Exact criteria are confirmed live at application.
Yes. Lloyds Banking Group has announced it is retiring the Halifax brand and bringing its UK retail and intermediary mortgage business under the Lloyds name, with the intermediary rebrand (Halifax Intermediaries to Lloyds Intermediaries) set for early 2027. Both have been part of the same group for years; this unifies them under one brand.
It migrates to Lloyds branding — the loan itself, and typically your sort code and account number, remain unchanged. You don’t need to do anything for the rebrand itself. If you’re coming to the end of a fixed rate, that’s a separate remortgage or product-transfer decision we can review.
On the annualised day rate — rate x 5 x 46 — rather than on drawings or accounts, which is the day-rate proposition moving from Halifax to the Lloyds brand. The exact income multiple and criteria are confirmed live at application, and are worth confirming rather than assuming through the brand transition.
The day-rate approach is well established and is moving with the business, so the expectation is continuity — but a consolidation of this size is a natural point for a lender to review criteria, so we don’t treat today’s exact figures as guaranteed to carry across unchanged. We confirm the live position on every case.
It has been a defining feature of the Halifax contractor approach — two years in your profession, with employed experience counting, rather than two years of contracting. Whether it carries across unchanged is exactly the kind of detail to confirm as live at application, particularly through the transition, which is part of what a broker does for you.
Yes — the lending is live and continues through the transition; it is the brand that is changing over time, not the availability of the mortgage. As a whole-of-market broker we place your case on current criteria, whether it sits under the Halifax or Lloyds name at the point you apply.
No — there’s no advantage in waiting. The lending is available now, and the rebrand doesn’t change the underlying proposition or your ability to borrow. If a mortgage is right for you, the timing decision should be about your circumstances and the market, not the brand name on the product.
Looking at a contractor mortgage with Halifax — soon to be Lloyds — or want to know which lender fits your case best? As a whole-of-market brokerage we assess your day rate properly and confirm live criteria through the transition.