Expert Contractor Mortgages
The demand for specialist expert contractor mortgages is going through the roof and hitting new levels. The housing market boom predicted by pundits after Chancellor Osborne created the Help to Buy scheme is starting to happen.
He hoped would cause a mini-boom to give a feelgood factor for the next election. He hopes that when people see their house prices going up it will give them the confidence to start spending money and get the economy going again.
The average home price is now £233,061. That’s a rise of £6,125 on a year ago. Experts expect that this will just be the start. They believe that house prices will soar in the next 3 years for the duration of Help to Buy.
The hope is that the economy will be in good shape by then to keep house prices on the boil. It is a kick-start for the housing market.
Tony Harris, who has been providing specialist expert contractor mortgages for years now says that the number of expert contractor mortgages that he is able to get UK Contractor is now exceeding the peak of 2007.
He said that contractors are now piling into this market before the main price rises that he expects to come.
He is able to get contractors mortgages at better than market rates at up to 95%. He can get them without any accounts and on the first day of a new contractor’s first contract. He can get them based on a multiple (up to 4 times) a contractor’s daily rate annualised (48 x their weekly rate).
Help to Buy
So, with the Government’s Help to Buy scheme this looks to be a one-way bet. This is because the Government are intervening to push house prices higher for their own purposes.
Therefore, it is an opportunity for contractors and freelancers to be able to trade up or get a foothold in the market before the prices rise.
To get more info, or to apply click on Specialist Contractor Mortgages