Specialist Contractor Mortgages
95% Specialist Contractor Mortgages are proving very popular with the advent of the Government’s Help To Buy scheme which started in October for existing houses and is due to run for the next few years.
It has really fired up a sagging housing market.
Rising House Prices
Rightmove, which is a property website have said that house prices have gone up by 1% in just the first two weeks of January. That’s an average of Â£2,406 per property. That’s the fastest they have ever gone up in that period says Rightmove.
House Prices have now gone up by 6.3% in the last year. That’s the highest rate of annual increase since the top of the market in November 2007.
In London it is just going crazy with house prices up by 15% in the past year. Indeed some experts are calling for Help To Buy to be cut short in London in case it overheats the market.
Contractor Mortgages deals are flying off the shelf according to specialist Contractor Mortgages broker Tony Harris.
Normally contractors find it difficult to get mortgages, with high street banks demanding to see three years worth of accounts and making offers related to the contractor’s Director’s salary which is not usually that large.
Because of Tony’s reputation in the marketplace and the good payment record of the contractors that he has got mortgages, he is able to get contractors mortgage offers based on their daily rate and all they need is a copy of their contract.
First Timer Buyers
Indeed he can get first time contractors mortgage offers on their very first day of their very first contract. They can be in their dream house in another 4-6 weeks. One new contractor was even able to get the keys to his dream house within two weeks of his first ever contract.
To find out more, or to apply, click on Specialist Contractor Mortgages