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Contractor mortgages: mortgage products available
There are many contractor mortgage options, but they’re generally not available from high-street lenders
…y. Often branch staff simply don’t understand the contracting sector, and contractors are better off using prov… …ist who deals with lenders that are able to offer contract based underwriting. For a more general round-up o…
Category: Articles: Mortgages | Thu, 17 Aug 2017

Mortgages for contractors: you can get one
Getting a mortgage when contracting does not have to be painful
…rect access to underwriting teams that understand contracting. These underwriters are not accessible to applica… …. So providers use an annualised multiple of your contract rate: if you are earning a certain number of poun…
Category: Articles: Mortgages | Thu, 14 Sept 2017

Contractor Doctor: Can I use my limited company money to offset my mortgage?
Contractors may face a hefty tax bill, and even prosecution, by using company money to offset personal mortgages, warns James Abbott of Abbott Moore.
…e sums in mortgage interest.” Good luck with your contracting! Contractor Doctor…
Category: Articles: Mortgages | Mon, 18 Sept 2017

Keeping ‘em sweet
With the demand for contractors increasing here’s a guide to holding onto your best ones.
…tractors with high professional standards is that contracts are misrepresented in the recruiting process. If… …burst contractors have been happy just to have a contract and delighted if it got renewed, even with enforc…
Category: Articles: Contractor Insider | Fri, 03 Mar 2006

Contractors can use offset mortgages to save tax
With the credit crunch biting, and mortgage companies removing special offers, contractors can still use offset mortgages to get the flexibility they need.
…vice. "You can take a break from payments between contracts, or away on a long holiday, and then when you sta… …is easy explains the expert: "We have negotiated contract based underwriting with many of the main provider…
Category: Articles: Mortgages | Thu, 12 Jun 2008

Contractor mortgages - Mortgage Market Reviews (MMR) explained
Contractors using expert mortgage brokers who understand contracting should be relatively unaffected.
…of their current CV so the lender can view their contracting history Two forms of ID, such as a passport and d… …not need to provide bank statements, accounts and contracts. Contractors can no longer benefit from fast-trac… …ractors mortgages based on their gross annualised contract rate, so in many respects it is business as usual…
Category: Articles: Mortgages | Mon, 28 Jul 2014

Contractor mortgages: a guide to mortgage options
Contractors can access the same range of mortgage deals via specialist brokers as those offered to employees
…ailable, see the Contractor Calculator article, “ Contracting and mortgages: contractor mortgage products .”… …ordability calculations that are applied to gross contract values. The lender will want to see a signed copy…
Category: Articles: Mortgages | Wed, 04 Feb 2015

Contractor Mortgages – Frequently Asked Questions (FAQs)
Contractors should have no problem securing a competitively priced mortgage from lenders who understand how contracting works.
…lender and financial adviser that understands how contracting works. The reasons why contractors struggle to ob… …ers right up to the day the householders exchange contracts. What can happen is that the lender conducts some… …e and a knowledge of contractors and they use the contract to define a contractor’s income. 3. Do I need thr…
Category: Articles: Mortgages | Thu, 14 May 2015

Getting a contractor mortgage – process and timings
Contractors should secure a robust mortgage finance agreement from their lender before they even start to look at properties.
…sale of an existing property or savings. Historic contracts may also be requested. Ideally, contractors shoul… …: We would ask for a copy of the contractor’s CV, contract, and other client specific evidence, build the co…
Category: Articles: Mortgages | Wed, 27 May 2015

Contractor mortgages – assessment and qualification criteria
Contractors must meet a range of mortgage lender assessment and qualification criteria if they are to secure a mortgage.
…hers are making the transition from employment to contracting and their increased income has prompted the desir… …an up-to-date CV showing many years of successful contracts, and copies of their past contracts that can be a… …losure. So, if a contractor is not currently in a contract and cannot prove their income from conventional m…
Category: Articles: Mortgages | Wed, 17 Jun 2015