Mortgage Application

Mortgage Application for UK Contractor Mortgages

To get your information pack for specialist contractor mortgages just fill in the form below.

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Specialist Contractor Mortgage Application

When applying for mortgages, contractors should always use specialist contractor mortgages brokers to get contractor mortgages.

The reason is that normal lenders will:-

1.  Insist on the contractor producing three years worth of accounts for the Mortgage Application

2.  Base their mortgage offer on the contractor’s Director’s Salary for the Mortgage Application

Property Ladder

This would count out contractors in their first few years who would be looking to get on the property ladder after, perhaps, doubling their income.

It would also mean that, if Director’s salary was used in the mortgage application, to calculate the offer, they would get a lower mortgage offer than if they had been a permanent employee.

Twelve to twenty years ago this was the case.

Contractor Mortgages Market

However, Tony Harris started the specialist contractor mortgages market. He started with IT Contractors. He managed to convince one mortgage lender that it was worth taking a risk in loaning to IT Contractors. He told them there was a lucrative market if it worked.

It did work!

Contractors regularly paid up their monthly repayments and didn’t default. This gave Tony credibility with both that mortgage lender and other lenders.

He has now expanded into the non-IT Contractor market as well.

Contractor Mortgage Offers

Tony can get contractors mortgage offers:-

1.  Based on their daily rate annualised (Daily Rate x 5 x 48 x 4)

2.  Just on production of their contract on their application

He can get new contractors a mortgage offer on the very first day of their very first contract. They can move into their dream house within 4 to 6 weeks of starting their first contract.

Indeed, Tony has done it as quickly as two weeks for one contractor. That was one, very satisfied, new contractor.

If you want to find out what mortgage offer you would get, just fill in the mortgage application form at the top of this page.