Bank of Ireland contractor mortgages
Bank of Ireland lends in the UK through brokers and shows appetite in areas some banks keep narrow — new-build and certain specialist cases — which makes it a useful comparison for contractors buying new.
Can a contractor get a Bank of Ireland mortgage?
Yes, through the intermediary channel. Bank of Ireland lends in the UK market via brokers and, where the case fits, can assess contract income rather than insisting on years of accounts. It is a mainstream-style option with useful reach into some specialist areas.
Its appeal is often breadth of appetite — it can be comfortable with cases, such as certain new-build purchases, where other lenders tighten. That makes it worth including in the comparison for a contractor buying a new home.
Where Bank of Ireland fits
It suits contractors buying new-build, where lender appetite and valuation approach matter, and applicants who benefit from a lender with a slightly wider specialist reach than a standard high-street bank. Day-rate income can be assessed on contract terms where the case allows.
A day-rate buyer on a new-build
Annualised (5 × 46): £96,600
Indicative borrowing at 4.5×: ≈ £434,700
An illustration; the assessed basis is settled once the case reaches an underwriter.
Do contractors pay more with Bank of Ireland?
No contractor loading applies. Pricing follows loan-to-value, credit and product. On new-build, the deposit and valuation drive the terms more than employment type does.
Bank of Ireland or a standard high-street lender?
For a plain resale purchase a mainstream bank may be simplest. Bank of Ireland earns its place where appetite for a new-build or specialist feature matters. We compare it against the high street — and a new-build-focused approach — before recommending.
A note on criteria
Bank of Ireland publishes intermediary criteria, but its new-build and contractor treatment is revised regularly and dates fast elsewhere. We confirm the live position against your case.
Smart Mortgage Solutions is an independent, whole-of-market broker. We have no affiliation with Bank of Ireland and are not endorsed by it; the lender is named here only to describe lending we can arrange. Anything we say about its approach is subject to change and is confirmed at the point of application.
Lenders we work with — a selection
Lender guides: Halifax · Barclays · HSBC · NatWest · Nationwide · Accord · Clydesdale · Yorkshire BS · Kensington See how we place cases →
Bank of Ireland mortgages, answered
Is Bank of Ireland good for new-build purchases?+
It shows appetite in new-build and some specialist areas where other banks tighten, which can help a contractor buying new. The exact terms depend on deposit, valuation and criteria at application.
Can a contractor use Bank of Ireland on a day rate?+
Where the case fits, it can assess contract income rather than requiring years of accounts. The basis is confirmed once underwritten.
Does Bank of Ireland lend directly in the UK?+
For these cases it lends through the intermediary channel, so a broker submits the application and frames the income correctly.
Will contracting raise my Bank of Ireland rate?+
No. Pricing follows loan-to-value, credit and product. On new-build, deposit and valuation matter more than employment type.
Should I use a broker for Bank of Ireland?+
Yes, particularly on new-build where appetite and valuation vary between lenders. We compare it against the market and present the income the way its underwriters expect.