See how lenders convert your day rate to annual income — and what you could borrow.
These figures are illustrative only. Actual borrowing depends on lender criteria, deposit, credit history, and individual circumstances. Income multiples vary by lender.
Based on 5 days × 46 weeks = 230 days/year. Multiple of 4.5× applied.
| Day rate | Annualised income | Borrow at 4× | Borrow at 4.5× | Borrow at 5× |
|---|---|---|---|---|
| £200/day | £46,000 | £184,000 | £207,000 | £230,000 |
| £250/day | £57,500 | £230,000 | £258,750 | £287,500 |
| £300/day | £69,000 | £276,000 | £310,500 | £345,000 |
| £350/day | £80,500 | £322,000 | £362,250 | £402,500 |
| £400/day | £92,000 | £368,000 | £414,000 | £460,000 |
| £450/day | £103,500 | £414,000 | £465,750 | £517,500 |
| £500/day | £115,000 | £460,000 | £517,500 | £575,000 |
| £550/day | £126,500 | £506,000 | £569,250 | £632,500 |
| £600/day | £138,000 | £552,000 | £621,000 | £690,000 |
| £650/day | £149,500 | £598,000 | £672,750 | £747,500 |
| £700/day | £161,000 | £644,000 | £724,500 | £805,000 |
| £750/day | £172,500 | £690,000 | £776,250 | £862,500 |
| £800/day | £184,000 | £736,000 | £828,000 | £920,000 |
| £900/day | £207,000 | £828,000 | £931,500 | £1,035,000 |
| £1,000/day | £230,000 | £920,000 | £1,035,000 | £1,150,000 |
| £1,200/day | £276,000 | £1,104,000 | £1,242,000 | £1,380,000 |
| £1,500/day | £345,000 | £1,380,000 | £1,552,500 | £1,725,000 |
Table uses 230 working days/year (5 days × 46 weeks) and assumes the full day rate is accepted by the lender. Actual figures will vary.
Specialist lenders don’t look at salary or dividends. They take the contract day rate and multiply it by the expected number of working days in a year — typically 230, based on 46 weeks at 5 days, allowing for holiday and gaps between contracts.
That annualised figure is treated as the contractor’s income. An income multiple — usually 4× to 5× depending on the lender, deposit size, and credit profile — is then applied to produce the maximum loan figure.
The result is typically significantly higher than what payslip-based or accounts-based assessment would produce. A contractor drawing £30,000 as salary from a £500/day contract would be assessed at £115,000 annual income by a day rate lender — nearly 4× higher.
→ How we assess contractor income in detailNot everyone works 5 days × 46 weeks. If you regularly work 4 days/week or take longer breaks, adjust the calculator accordingly. Some lenders will cap the weeks used.
Lenders vary. 4.5× is the most common, but some will go to 5× for strong applications. Others cap at 4×. Deposit size and credit profile affect which multiple is available.
A larger deposit widens lender choice and can unlock higher income multiples. It also affects the interest rate, which changes monthly repayment affordability.
Car finance, loans, and other credit commitments reduce net affordability. A £300/month car payment reduces effective borrowing by approximately £18,000–22,000 depending on the lender’s stress test.
Explore more interactive calculators for affordability, tax efficiency, remortgage potential, and lender comparison:
Detailed breakdown showing how contract length, gaps, debt, and credit affect your real borrowing power.
Compare specialist day rate lenders vs mainstream banks. See borrowing differences, rate impact, and timeline.
Calculate equity in your property and additional borrowing available. See rate improvement savings.
Compare salary vs dividends vs sole trader. See take-home, tax bill, and optimal structure for your income.
The table and calculator give you a starting point. An accurate figure needs a specialist broker who knows which lenders will go furthest for your contract type.
Book a free call →