Often yes. Several lenders assess contractors from the first day of their first contract, reading your prior employed career as continuity. With an established professional background the market is frequently open immediately, at mainstream pricing.
Usually not. That expectation comes from how the traditionally self-employed are assessed; day-rate contractor lending works from the contract itself, so many lenders need little or no contracting history. The two-year idea is one of the most common and costly myths in contractor lending.
A lender that will assess you from the first day of your first contract, with no minimum contracting history required. It reads the current contract as the income evidence and your professional background as continuity. Several well-known lenders offer this, which we can place you with.
Yes, at many lenders. Some require time in your profession rather than time contracting, and your employed years in that field count — so an experienced professional new to contracting can qualify immediately. This is exactly where new contractors are often wrongly turned away by generalist advisers.
Yes — a day-rate lender assesses your current contract rather than requiring a trading history from the company, so a brand-new limited company is far less of an obstacle than at an accounts-based lender. The contract does the work the accounts would otherwise do.
Sometimes a short wait opens sharper pricing or a better-fitting lender, but waiting two years by default is almost never necessary and costs you rent and market movement. Whether waiting helps your specific case is a quick calculation we can run for you.
