Cashback Deals for Contractors
The Halifax have just reported that they are re-launching their special cashback deals for first time buyer contractors.
The deal is that first time buyers will get 1% of the amount they have borrowed deposited into their bank accounts. That will take place within 30 days of the contractors finalising their mortgages.
So ,if a contractor borrowed £200,000, he, or she, would get £2,000 put into their account by the Halifax.
There is a maximum of £2,000.
Special Deal for Contractors
This is a special deal just for contractors.
After being initial nervous about loaning to contractors, more and more lenders are realising what a lucrative market loaning to contractors has become.
Those first time buyers who can take advantage of the Halifax’s offer don’t have to show a track record of contracting and earning like they used to have to do.
Therefore, all they need to show is a copy of their contract.
Contractor Mortgage Offer
Their mortgage offer would be based on their daily rate annualised, i.e. their weekly rate x 48 times 3 or 4 or 5.
Contractors are becoming more and more popular with mortgage lenders.
They are getting more and better and better offers from them.
The good track record of other contractors who took up specialist contractors mortgages has helped here.
So, he market is still looking pretty good with the lowest interest rates on record.
House prices are likely to rise once the uncertainty of the EU referendum is over. This is especially if it is a vote to stay in.
Markets don’t like uncertainty. So, the mortgage market will be hoping for business as usual after the EU vote with an increase in sales and house prices likely.
Contractor Mortgage Information Pack
To get your information pack on the Halifax’s new offer on cashback deals to contractors just fill in the short form at Specialist Contractor Mortgage Information.