Hodge assesses 100% of contract income across an unusually broad set of structures — day-rate, umbrella, CIS and fixed-term — from day one. Its distinguishing feature is that structural breadth: where a narrower policy trips on the way a contractor is paid, Hodge tends to read it. For contractors whose payment structure is the sticking point elsewhere, it is a strong specialist. This guide covers how it assesses income and where it fits.
Approach is stable; figures are confirmed at application.
Many lenders accept day-rate limited company contractors but stumble on the variations — CIS construction workers, fixed-term contractors, some umbrella structures. Hodge assesses across all of these, using 100% of the contract income, and does so from day one of a contract without requiring a track record. That breadth is its core value: the contractor whose structure is unusual, or who is brand new, often fits Hodge where narrower policies decline. Specifics are confirmed at application.
Hodge annualises the contract in the standard way, using the full contract income:
Day rate x 5 days x 46 weeks = assessed annual income
A £550 day rate assesses at £126,500; at a standard 4.5x that is around £569,000 of indicative borrowing — illustrative, and dependent on your circumstances and Hodge’s live criteria. For inside-IR35 cases it can assess on gross contract value where evidenced, which matters for that profile.
A typical application is built around the current contract, work history, bank statements and proof of deposit and identity, with the income evidence appropriate to the structure — for CIS, the CIS statements; for umbrella, the Key Information Document. Hodge prefers clean credit; adverse goes to rehabilitation specialists. Its sweet spot is the contractor whose structure (CIS, fixed-term, umbrella) or day-one status trips narrower lenders.
Illustrative only, using the standard 5 x 46 method on 100% of contract income and a typical 4.5x multiple.
Match the income evidence to your structure: CIS statements for a CIS contractor, the Key Information Document for umbrella, the contract for day-rate or fixed-term. Leading with the right evidence for your structure is what lets Hodge apply its full 100%-of-contract assessment. For inside-IR35 cases, evidence the gross rate.
Because Hodge lends from day one, a clear work history showing the professional background behind a new contract strengthens the case.
Hodge suits the contractor whose structure trips narrower lenders — CIS, fixed-term, some umbrella arrangements — and the brand-new contractor who needs day-one lending across those structures. Its structural breadth is its defining strength.
It suits you less well if you have adverse credit, where a rehabilitation specialist fits better.
Yes — day-one lending is available across its accepted structures, using the current contract as evidence. Exact terms are confirmed at application.
Yes — CIS is among the structures Hodge assesses, alongside day-rate, umbrella and fixed-term, using 100% of contract income. Specifics are confirmed at application.
On 100% of contract income, annualised as day rate x 5 x 46, across its accepted structures.
It can assess on gross contract value where evidenced, which keeps it relevant for inside-IR35 cases. The gross rate must be evidenced; specifics are confirmed at application.
Yes to both, with appropriate income evidence for each structure — the Key Information Document for umbrella.
It prefers clean credit; adverse cases are usually better matched to rehabilitation specialists. We triage the right tier.
Yes — CIS is among the structures Hodge assesses on 100% of contract income, alongside day-rate, umbrella and fixed-term. Present your CIS statements as the income evidence. This structural breadth is much of why contractors use Hodge. Specifics are confirmed at application.
It can assess on gross contract value where evidenced, which keeps it relevant for inside-IR35 cases where the gross-versus-net distinction is worth a large amount of borrowing. Lead with the contract or Key Information Document to evidence the gross rate.
Want to know whether Hodge is the right lender for your contract — or which lender is? As a whole-of-market brokerage we compare Hodge against the rest of the market and confirm live criteria for your circumstances before you apply.