Specialist contractor mortgage options
Rely on day rates, ABN income or contract terms
Apply with payslips, bank statements or accountant letter
Contractor mortgage experts offering online application and dedicated support
Our dedicated team of local Loan Consultants is here to help you
A contractor mortgage is a home loan tailored to borrowers who work under contract rather than permanent employment. This includes self-employed contractors, freelancers, consultants and subcontractors who may earn income through an ABN, daily rate or short-term agreement. These mortgage options are designed to consider the unique ways contractors earn income, offering more income verification flexibility than standard home loans. At Yard, we help contractors secure competitive home loan solutions that align with their working style.
An independent contractor is someone who provides services to businesses or clients under a contract, rather than working as a permanent employee. This includes ABN holders such as consultants, tradespeople, IT professionals, subcontractors, freelancers and contract workers across various industries. Contractors are typically responsible for managing their own tax, superannuation, and income documentation.
Contractor home loans are suitable for a wide range of borrowers who earn income through non-traditional or contract-based arrangements. If you’re paid per project, per hour or per contract, and can show consistent income, a contractor mortgage may be the right fit.
Every contractor’s situation is different, which is why we can consider a variety of income verification documents:
2 most recent payslips (if available)
Copy of current contract and contract history
Bank statements
If self-employed, tax returns or a flexible income verification option (e.g. accountant's letter and business activity statements)
Our team will guide you on the best combination of documents depending on the nature of your contract, how you generate income, and your overall work history.
Understanding the pros and cons of contractor home loans can help you make an informed decision based on your income structure and borrowing goals.
Pros
Flexible income verification
Use day rate, contract-based or self-employed income streams
Faster application and approval process
Cons
May attract higher interest rates
Loan options may have tighter eligibility criteria
Often requires a higher deposit, with Yard offering options up to 90% LVR
Flexible income verification options tailored to contract income and ABN holders.
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We are contract mortgage lending specialists - we'll get to know you and your role to find a solution for your situation.
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We can help you purchase, refinance, consolidate debts or release equity/get cash out from your property.
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We perform individual assessment on each application to consider your specific circumstances on a case-by-case basis.
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Contract physiotherapist
James, a Sydney-based IT consultant earning a day rate on a rolling contract, was turned away by a bank due to his short contract history. With 6 months of ABN income and consistent earnings, James was able to secure a competitive contractor mortgage.
IT contractor
Graphic designer
IT contractor
Tahlia, a freelance graphic designer, wanted to buy a unit in Melbourne. She had an accountant’s letter and business activity statements for the past 12 months. Tahlia applied using flexible income verification and was approved for a low doc contractor loan tailored to her business income.
Graphic designer
Construction subcontractor
Graphic designer
Steve, a subcontractor in the building industry, was looking to refinance to reduce repayments. His income came through multiple short-term contracts. Steve used his contract history and business bank statements to secure a refinancing solution under a contractor mortgage option.
Construction subcontractor
Contract physiotherapist
Construction subcontractor
Sarah, a contract physiotherapist, relocated to Queensland for a new 12-month fixed term contract placement. As a salaried contractor, she used her contract agreement and payslips to apply. Sarah was successful in obtaining a contractor mortgage to purchase a new property.
Contract physiotherapist
IT contractor
Yes. If you don’t receive regular payslips, you’re likely self-employed and earning income through an ABN. In this case, we may review your recent tax returns if available. If not, Yard accepts a range of flexible income verification documents including business bank statements, Business Activity Statements (BAS) or an accountant’s letter confirming income. We assess each case individually to find the most appropriate solution.
Usually 6-12 months with a valid ABN or stable contract history. Some exceptions may apply based on your profession.
Yard can consider loans up to 90% LVR depending on your income, deposit, and supporting documentation.
Interest rates may vary depending on your individual circumstances, including the loan-to-value ratio (LVR), property type and location, your credit history, and how your income is verified (full doc vs low doc). Refer to our interest rates page to review current interest rates.
Yes. Contractor mortgage refinance options are available for reducing repayments, accessing equity or consolidating debt. You can review Yard's refinancing home loan options.
Yes, in some cases Yard can consider home loan applications from contractors with less than 12 months of contract or ABN income - especially if you have industry experience, a strong deposit, or a signed on-going contract. Every application is assessed individually, and we offer flexible options for independent contractors and contract workers who don’t meet traditional criteria.
New loan inquiries: hello@yard.com.au
Service requests: help@yard.com.au
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