How do Contractor Mortgages Differ?
The main difference with contractor mortgages is how the lender assesses your income.
As an IT Contractor, you might have a short fixed term contract or use a tax efficient Limited Company for your accounts. Both of these things can restrict how much you could borrow on the high street.
However, there are specialist lenders who welcome IT contractors and have set up their lending for the way you work. Rather than using a “one size fits all” model. These lenders have more bespoke lending criteria aimed at the financial needs of contract workers.
This underwriting method will use an annualised figure of your contract rate to assess your mortgage affordability. These lenders will use your gross contract rate to assess your income, enabling you to apply for a mortgage that reflects your true level of income.
We know which mortgage lenders are familiar with the way IT contractors work. We know how to package your case so it meets the lender requirements. You are more likely to get a successful outcome if you use an expert broker like us
To find out more, why not contact us for Mortgage Advice for IT Contractors today?
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Why use Mortgage Expert?
Our experienced team is based in the heart of Salisbury, Wiltshire. But we can help you no matter where you live in the UK.
We are not like other brokers. We have over 80 years of experience in the mortgage and protection industry. Our clients include IT contractors, CIS contractors and other types of contractors. We have the expertise to make the difference for you.
We have over 100 five star reviews on Google and over 90 verified reviews on VouchedFor. And we would love to work hard for you.
How we work:
- Take time to get to know you and your intentions
- Personalised, hard working service
- Close relationships with specialist lenders
- Detailed research to ensure you save money
- Take care of the paperwork to minimise stress
We’ve helped hundreds of Contract workers and self employed people with Mortgage Advice for IT Contractors. Don’t take our word for it, read about Andrea from Warminster who used Your Mortgage Expert for his Contractor Mortgage.
-
Email Dan AllenDan Allen - Mortgage Adviser
Dan Allen has worked with mortgages for over 10 years. He takes time to understand different lender criteria. His wealth of knowledge means he will know which lenders will work for you situation. -
Email Dan HarrisDan Harris - Mortgage Adviser
Dan Harris first started working in mortgages in 2004. Dan has great attention to detail and will do the hard work to ensure you get the right recommendation to help with your Property.