FREELANCE AND CONTRACTOR MORTGAGES MADE EASY
Mortgages base on Contract Rate alone
Negotiated bespoke underwriting terms for contractors with High Street Lenders
Access to hundreds of mortgage offers from the whole of the market
Streamlined processes avoiding unnecessary paperwork and time delays
Avoid the more expensive self-certified mortgage route
For more Information About Contractor Mortgages Click on this Link
Difficulties that Contractors face in Getting a Mortgage
Many contractors who use a limited company or an umbrella company
have difficulty in getting a contractor mortgage because the lender only looks at
their salary in their mortgage calculations. The lender ignores the gross
daily rate you earn and also penalizes you for the fact that you are a
‘contractor’, and therefore deemed to be a ‘higher risk’.
The perception on the part of lenders is that those on short-term
contracts represent a poor credit risk on serviceability of a loan because
their incomes are difficult to assess.
A contractor looking for a mortgage should avoid if possible the self
Certified route associated with Contractor Mortgages. The rates normally
quoted for self certified mortgages are expensive in relation to normal
mortgage rates. For many contractors this has been their only option.
Besides, the government are making it more difficult to go the
self-certified route.
Mortgage Solutions for Contractors
I have recently come across a company that has negotiated bespoke
underwriting terms with many ‘High Street’ lenders and therefore can
obtain a ‘Prime Rate’ mortgage based simply on a multiple of the
contract rate alone. In essence, due to their relationships with lenders
you are treated the same as a permanent employee.
This mortgage broker provides the expertise and research to ensure
That every mortgage is correctly tailored for a contractor’s individual
needs and circumstances.
They provide a consistently a speedy, straightforward service for busy
contractors. They are respected and trusted for their specialist expertise
in the field of mortgages for contractors and provides the strength of a
large organisation but with a high level of personal service.
For more Information About Contractor Mortgages Click on this Link
