Contractor Buy To Let Mortgage Market Booming

Contractor Buy To Let Mortgage Market

The contractor buy to let mortgage market is in a bit of a boom at the moment.

According to figures out today the buy to let contractor mortgage market is going through the roof.

The Bank of England, and its boss Mark Carney, say that the Buy-To-Let mortgage market is growing at an appreciably faster rate than the ordinary market. It looks like Landlords see the property letting market as a great investment. They are piling in.

The same goes for the contractor buy-to-let mortgage market. Contractors are piling in too.

Contractors Investing in Buy to Let Property Market

They are looking for ways to make their money work for them. One of those ways, it appears, is to buy into the property market.

At these low-interest rates, they are able to get most of the money that they pay in mortgage payments back in rent. Sometimes they can even make a profit.

In later years, as rents rise, they can pull bigger and bigger profits from it.

However, the big gains from the contractor buy to let mortgage market are in capital gains.

Contractors Who Invest Wisely in Property

Those contractors who do well financially are those who make investments like these.

The contractors are earning money and their investments are making money too.

Many contractors with a few years experience are able to make more money from their investments than they make themselves.

Indeed, after a few good years, some contractors are able to get out and live on their investment income. They can then do what they like with their time.

Time for Contractors to Start Investing in Property

Normally we are talking about contractors who have been investing for 10 years or more successfully.

However, there is no time like the present to take that first step.

Tony Harris started the contractor mortgage market and has been getting British contractors 95% specialist contractor mortgages for years now.

He is able to get contractors mortgages based on their daily rate annualised and using their contract as proof rather than having to produce three years worth of accounts like you would if applying through a high street bank or building society.

Contractor Mortgages Based on Contract Rate

Indeed if you go through those you will get an offer based on just your Director’s salary, which makes it not worthwhile.

However, with Tony all you have to do is produce your contract.

He can get a new contractor a quote on the very first day of their very first contract.

Indeed, he has had contractors in their dream homes as quickly as two weeks after they started contracting.

He can also get them a contractor buy to let mortgage in pretty quick shape too.