Tony Harris is a specialist broker of contractor mortgages. He has been getting contractors mortgages for many years. So, I thought I would ask him why contractors should use a specialist broker like him rather than go direct to those that give out mortgages.
I asked him “Why should I go via you when I can just walk into a high street bank or building society? What differentiates you?”
With over fourteen years experience as a specialist broker and of negotiating our contract based mortgage underwriting, we have built unrivalled relationships with lenders.
If you go in to a high street bank and present your accounts, the mortgage adviser will only see your net income. This should be considerably less than you are actually earning (if your accountant is doing his job). So, this could severely limit the amount you can borrow.
Annual Contract Rate
Instead we use our contacts to secure your mortgage based on a multiple of your annual contract rate. This is irrespective of how long you have been contracting. It also doesn’t matter how long you have left on your current assignment.
This invariably allows our clients to borrow far more than they could even when they were a permie. It also saves the trouble of collating years of accounts or projections. This is the standard requirement if you were to go in-branch.
We understand that you live a very hectic lifestyle and have tailored our service to match.
We won’t need to see you face-to-face for a lengthy meeting as our entire service is offered online, via email and by phone. We do all the running for you, liaising with solicitors, lenders and estate agents so you don’t have to.
You will have one contact who will guide you through the process and is on hand to answer any questions you may have, leaving you free to concentrate on the needs of your client.
Best Mortgage Rates
That answers that then. It would be a foolish contractor who walked into banks asking about their contractor mortgages.
Tony uses his credibility in the marketplace to help get contractors the best mortgage rates available and the highest offers.
To get further information or to apply to a specialist broker for a mortgage, fill in a form here and Tony will get back to you:- Mortgages for Contractors