Specialist Contractor Mortgages broker predicts a boom year ahead

Specialist Contractor Mortgages Broker advice

Specialist Contractor Mortgages Broker

Specialist Contractor Mortgages broker, Tony Harris, sees a boom year ahead in 2014. Tony, who has been getting contractor mortgages for years at better than market rates, said “The market could be flying next year as there’s a heck of a lot more optimism”.

Tony is the first port of call for contractors whom the hight street bans have put off when they demand three years worth of accounts and only giving quotes of a multiple of their directors’ salaries, which are deliberately kept low to avoid tax.

Help To Buy

The big show in town now is Help To Buy. It is this that has set the market in motion with house prices already heading north. For years lenders weren’t lending except to people who could put up 20% or 25% of the money. That kept first time buyers out of the market and they are crucial to the housing market.

Now the Government is guaranteeing 20% of the money. That means that lenders can now offer 95% mortgages again So, that brings a lot more people into the market. The economic Laws of Supply and Demand say that if you increase the Demand and the Supply stays the same then the price of a commodity (in this case houses) will rise.

Help to Buy will be in place for three years so house prices are expected to soar. A recovering economy will also send house prices north.

Under Starters Orders

Phase 1 of the Government’s plan was to only offer the help with new houses. This was to help boost the construction industry as well as the housing market.

They were going to bring Help To Buy Phase 2 in on January 2014 for existing houses. However, they have brought it forward to October 2013. Buyers are now under starters orders and hoping to get in before house prices head further north.

With Tony’s credibility as a specialist contractor mortgages broker with lenders he can get contractor mortgages quotes from brokers almost immediately. All he needs is a copy of the contract rather than three years of accounts. He also gets contractors mortgages based on their daily rate annualised (daily rate x 5 x 48 x 4) rather than based on their directors’ salary. He can get first time contractors quotes on their very first day of their very first contract.

For more info, or to get a quote from a specialist contractor mortgages broker, fill in the form here Specialist Contractor Mortgages

Help to Buy Explanation for Contractor Mortgages

Help to Buy explanation

Help to Buy Explanation

We give a Help to Buy explanation.

Help to Buy is the new scheme set up by the Government to give the housing market a kickstart. They hope that it will kickstart both the construction industry and also the UK economy. They are taking a risk that it just creates a housing bubble similar to the situation where we got into this mess in the first place.

However, contractors can take advantage of this. It is probably the best time to get a contractor mortgage. There is likely to be a ready supply of new buyers. The laws of Supply and Demand say that if you increase the Demand when the Supply remains the same then there is bound to be a rise in price of the product supplied, in this case UK houses.

Help To Buy

So, how does Help to Buy work?

It was brought in for new houses and flats only in the Budget this year. They were going to bring it in for older houses in January. However, they have now brought that forward to October. So it is ready to go now.

Lenders, previously, were insisting on deposits of 20% or more. So the Government are going to loan housebuyers 20% of the mortgage in a 5-year interest free loan. They guarantee the lenders 15% of the mortgage.

This means that lenders can offer 95% mortgages again. This obviously brings a host of new potential buyers into the market. Indeed it brings in far more first-time-buyers.

Among these are contractors. Tony Harris has been getting specialist contractor mortgages for years, now, at below market rates. He can now get first time contractors mortgage offers on their very first day of their very first contract. What’s more he can get them mortgage offers based on their daily rate annualised, i.e. Daily Rate x 5 x 48 x 4.

How to Apply

For a Help to Buy explanation or to apply for one of these specialist contractor mortgages click on Specialist Contractor Mortgages

95% Contractor Mortgages: Help to Buy now available for Contractors

95% Contractor Mortgages

95% Contractor Mortgages

Contractors seeking to use Help to Buy to get 95% Contractor Mortgages got a major boost when the Chancellor, George Osborne, announced that Help to Buy was being brought forward from January next year to October this year.

It was already available for new houses but not for existing houses. Now, it will be available for contractors for all properties new or old starting from October.

Lending companies had been insisting on deposits of 20% or more, which scuppered a lot of new contractors. So, the Government is stepping in to underwrite the extra up to 95%.

Contractors have already been taking advantage of it for new houses. Now it is available for contractors going for old houses. Therefore, they are expecting to really pile in for any property.

Help to Buy

The scheme will last for 3 years. Already house prices have started to pick up a head of steam. Prices are up by 0.5% this month on last month which is an annual rate of 6%.

With the Government announcement that Help to Buy is being brought forward and available for contractors, they expect price increases to accelerate.

Tony Harris has been getting Specialist Contractor Mortgages for contractors for a number of years now. He has seen the market go through the roof recently.

The reason is that he can get contractors offers based on a multiple of their daily rate annualised (x 5 x 48 x 4) rather than an offer based on a contractor’s director’s salary as the high street banks do.

Production of Contract

They don’t need three years worth of accounts either as they would through a high street bank. Tony says that all they need is their contract.

Indeed he says that he can get contractors specialist contractor mortgages offers on the very first day of their very first contract. Furthermore, they can get the keys to their dream house within 4 weeks of starting their first contract.

This appears to be the time to buy. House prices are likely to be 15% to 20% higher in three years time.

95% Contractor Mortgages are now available for contractors.

To get more info, or to apply, click on Specialist Contractor Mortgages

Help to Buy fuels Contractor Mortgage boom

Help to Buy fuels

Help to Buy Fuels

Help to Buy fuels contractor mortgage boom.

Help to Buy, the Government’s new tool to boost the housing market, is helping the Contractor Mortgage market. Tony Harris, an expert in getting contractors mortgages, is seeing the contractor mortgage market go through the roof.

Currently it is only available for new houses. However, from the end of the year contractors will be able to get mortgages for all types of property. With Help to Buy contractors can get 95% mortgages. Previously mortgage vendors have been asking for 20% deposits.

Basically the Government is underwriting the 95% mortgages encouraging people to start buying and selling houses. Their motives are to boost the feelgood factor ahead of the next election in less than 2 years time.

In July house prices rose by 3.3% year-on-year. In June it was 3.3% so it looks s if the market is getting up a head of steam. This looks to be a good time to get in as Help to Buy fuels this market and will help get the market motoring.

Property Prices

There’s still a chance to get into the market outside London and the South East where property prices have only risen by 0.8% in the last year. Any property price rises usually start in London and the South East and gradually spread north from there.

Tony is able to get contractors mortgages at less than the market rate. This is down to his credibility in the marketplace and because previous contractor clients of his have paid back their loans and have not defaulted.

From being seen as risky the track record of contractors in paying their mortgages has meant that new entrants to the mortgage market are getting mortgages at better than market rates.

He gets them mortgages at up to 4 times their daily rate annualised rather than as a multiple of Director’s Pay as high street banks do.

They also don’t need 3 years worth of accounts as they would at a high street ban. All they need is their contract. According to pundits this is a premium time to buy. The Stock Market has already soared but the property market is just starting to get into gear now. Prices will be higher in 3 years time.

Help to Buy fuels this market.

For more info click on Specialist Contractor Mortgages

New First time buyers boosting Contractor Mortgages Market

New First Time Buyers

New First Time Buyers

The return of new first time buyers has given the contractor mortgage market a massive boost. Because the big banks and building societies were insisting on 20% deposits and more new first time buyers were getting squeezed out of the market.

However, with the Government’s new Help to Buy scheme first time buyers are flocking back to the market in droves.

There were 25,100 new first time buyers in May. That’s a massive 29% up on April. It’s an even higher 42% higher than in May last year. The Help to Buy scheme is having a massive effect on the housing market.

Contractor Mortgage Guarantee

The Government are guaranteeing parts of the mortgage to enable people to get 95% mortgages again. It is this that is bringing the new first time buyers back in such massive numbers. It is also causing house prices to head north again.

First time buyers now account for 45% of house purchases. The average since 2007 has been 38%.

Said Paul Smee of the Council of Mortgage Lenders “Although monthly lending is still running at far less than half its typical level during the peak, there is no doubt that the mortgage market is firmly open for business. The borrowing appetite of first time buyers and the availability of attractive mortgages for them, have improved markedly since a year ago.”

Specialist Contractor Mortgage Broker

Contractors looking for a mortgage should avoid the high street banks and building societies. They should contact a specialist contractor mortgage broker instead.

The reason is that those big institutions don’t understand freelancing and ask for 3 years worth of accounts. They also make their offer based on the Director’s salary in their accounts. As we all know contractors prefer to get paid their money in dividends.

Specialist Contractor Mortgage broker, Tony Harris, has been getting contractors mortgages for years using just their contract and basing the offer on the contractor’s daily rate annualised. So a contractor earning £400 a day could get a mortgage offer of up to half a million pounds.

He uses his reputation in the marketplace to get contractors mortgage offers at less than the market rates. To find out more or to get a quote click on Specialist Contractor Mortgages

Contractor Mortgage demand rockets as house prices soar

Contractor Mortgage demand

Contractor Mortgage Demand

Contractor Mortgage demand is rocketing. The average price of houses soared because of different Government initiatives designed to send house prices rocketing before the next election. They are trying to create a feelgood factor.

A survey by Rics shows their members expecting house prices to continue to rise for at least 5 years.

Just last week, the Halifax said that house prices are rising at their fastest rate for 3 years. House prices for the 3 months to the end of June were up 3.7% compared to this time last year.

Help to Buy

This is expected to be just the beginning, as the Government’s Help To Buy scheme starts to kick in. The Government are underwriting part of mortgages now. This is in order to let people get 95% mortgages when lenders were insisting on a deposit of at least 20% before.

This is opening up the market to first time buyers who were locked out before. It is increasing the demand so, when that happens, prices soar according to the economic Laws of Supply and Demand. Contractor Mortgage Demand will keep increasing.

According to Peter Bolton King of Rics “After what has seemed like a very long wait we are finally starting to see what looks like the beginning of a recovery in the housing market”.

“It is important to remember that activity levels still remain depressed by historic standards. However, the various initiatives designed to encourage the provision of finance into the market do appear to be paying dividends.”

Contractor Mortgage Deals

Specialist Contractor Mortgage broker Tony Harris, who has been getting contractors mortgages for years, said that he had never been busier. Contractor Mortgage Demand is going through the roof.

Tony is able to get specialist contractor mortgage deals at rates below the market average. This is because of his credibility with lenders. It’s also because contractors that he previously got mortgages for have not defaulted.

He is able to get them mortgages without having to produce any accounts. All they need is a copy of their contract. He can get them mortgages at up to 4 times their daily rate annualised. This means that contractors on £500 a day can get an offer of close to half a million pounds.

For more information or to get a quote click on Specialist Contractor Mortgages

 

Government Help to Buy Scheme makes one-way-bet

Government Help To Buy scheme

Government Help to Buy Scheme

The Government Help To Buy scheme  is sending the number of Contractor Mortgages soaring to even greater heights than the peak of the boom in 2007. The Government Help to Buy scheme is where the Government underwrites 20% of the mortgage so that customers can get 95% mortgages again.

The Government are doing it to boost the housing market and the economy. Most of all, though, they are doing it to increase the feelgood factor and get themselves re-elected.

Pundits have criticised the Government saying that the Government Help to Buy scheme will create a housing boom. However, that is what the Government intended.

House Price Increases

Nationwide have just released figures showing that house prices have increased by 4% in the first six months of the year. In London house prices are now 5% above what they were at the peak of the boom in 2007. The rest of the country is still 9% below that peak.

There has never been a better time to buy, though, with the Government committed to fuelling a house price boom. The Government Help to Buy scheme is to last for 3 years at which point a recovering economy should keep prices moving ahead.

Interest rates have never been lower at around 4% for a mortgage. This is definitely the time to go for a fixed-rate mortgage.

Specialist Contractor Mortgage Brokers

It is also better to use specialist contractor mortgage brokers. They are much better at getting contractor mortgages than the high street banks or building societies. Contractors don’t have to produce three years worth of accounts but merely their contract.

Indeed they can get these specialist contractor mortgages on the very first day of their very first contract.

They can get a quote of up to 4 times their daily rate annualised (daily rate x 4 x 48). Most banks and building societies, who don’t have experience of contractors, base it on Director’s salary.

To get more information or to ask for a quote click on Specialist Contractor Mortgages