Contractor Mortgages Made Easy - Contractors save Taxes

Contractors save Taxes

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

ACourteous and prompt service

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.