Whether you’re operating through an umbrella company or your own personal limited company, understanding how to obtain a mortgage as a contractor in Ireland is crucial for turning your homeownership goals into reality.
To celebrate Home Ownership Month this June, our expert mortgage partner, Humdinger Mortgages, has shared the most up-to-date guidance to help contractors across Ireland navigate the mortgage process with ease.
Understanding the Mortgage Basics in Ireland
Before we dive into contractor-specific advice, it’s important to know the core mortgage requirements that apply to all applicants—whether you're PAYE, self-employed, or a contractor:
Deposit Requirements
- First-Time Buyers (FTBs): 10% of the property value
- Non-First-Time Buyers (NFTBs): 20% of the property value
Loan-to-Income Ratio
- FTBs can borrow up to 4x their gross annual income
- NFTBs can borrow up to 3.5x their gross annual income
Repayment Capacity
Lenders will assess your ability to meet monthly repayments—even if interest rates rise by 2%.
You’ll need to show at least 6 months of financial discipline, such as:
- Regular savings equivalent to your projected mortgage repayments
- Or steady rental payments of a similar value
Credit History
A clean credit record is essential. Missed payments, unpaid debts, or frequent overdraft usage could impact your eligibility. Take time to review your credit report and resolve any issues before applying.
Other ways to show your mortgage ready
When it comes to obtaining a mortgage while contracting or self-employed in Ireland, lenders will assess your income consistency and financial stability. Here's how you can prepare:
1. Maintain a Good Credit Rating - Pay off credit cards, loans, and utilities on time to build a strong financial profile.
2. Avoid Gaps in Contract - A consistent work history is key. Lenders prefer to see at least 12 months of continuous contracts.
3. Demonstrate Strong Savings Habits - Regular deposits into a savings account help demonstrate repayment capacity.
4. Keep Personal Finances in Order - Ensure your bank statements are clean and show responsible spending in the six months before applying.
Documentation Checklist for Contractors
Depending on your contractor setup, the documentation required can vary. However, all mortgage applications are reviewed on a case-by-case basis, and additional documents may be requested.
- Copy of your current contract & CV
- Latest Employment Detail Summary (EDS)
- Tax clearance certificate for your umbrella company
- 3 months’ payslips
- Personal bank statements
For Director Umbrella Company Contractors
All of the above, plus:
- Accountant’s letter confirming tax affairs are up to date
- Form 11 & Chapter 4
For Personal Limited Company Contractors
- Contract & CV
- Tax clearance certificates (company & individual)
- 3 months’ payslips
- Personal & business bank statements
- Audited or traded company accounts
- Accountant’s letter
- Form 11 & Chapter 4
�� Why Work with Icon Accounting and Humdinger Mortgages?
Getting a mortgage as a contractor or self-employed individual can seem overwhelming—but it doesn’t have to be. With Icon Accounting and our partner Humdinger Mortgages by your side, you get:
- A dedicated advisor who understands the contracting model
- Access to multiple lenders to secure the best mortgage rates
- Full support with documentation—payslips, tax certs, financial statements & more
Whether you’re new to the contracting world or a seasoned professional, the key to mortgage success is preparation. Stay financially disciplined, ensure a consistent contract history, and partner with specialists who understand your career structure.
Book your free mortgage consultation with Humdinger Mortgages today!
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Icon Accounting, Columba House, Airside,
Swords, Co. Dublin, Ireland, K67 R2Y9