Tag Archives: Propert Ladder

Contractor Mortgages for Umbrella Company Contractors

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Umbrella Company Contractors getting Mortgages

Umbrella Company Contractors

Can specialist brokers get mortgages for umbrella company contractors?

Specialist contractor mortgages broker Tony Harris has been getting contractors mortgages for years without them having to produce three years worth of accounts as a high street bank would ask for. He can also get the offer based on their daily rate rather than a multiple of their Director’s salary.

He started with getting mortgages for IT Contractor more than ten years ago. Previously contractors found it difficult to get mortgages because they didn’t have regular monthly income like a permanent employee.

Mortgage Lender

However, Tony talked a lender into taking a chance and give contractors mortgages. The contractor paid up their mortgages monthly and didn’t default.

This gave Tony greater credibility with the lenders. So, he was able to get more and more mortgages for contractors. This has benefitted many, many contractors in the last 10 years.

However, can he also get specialist contractor mortgages for Umbrella Company contractors? We put it to him.

We asked “Tony, do you cater for Umbrella Company contractors as well as Limited Company contractors? What info do they have to supply and is easier or harder to get them mortgages?”

Contractors Mortgages

He replied “We use a multiple of contracts irrespective of whether you are a ltd company owner or if you contract through an umbrella company.

“The only difference is that additional evidence is needed to support your application by way of your payslips. It is no harder to secure a mortgage for umbrella company contractors, as long as you have a signed copy of your current contract”.

So it looks as if those specialist contractor mortgages are available to Umbrella Company contractors just as easily as they are to Limited Company contractors.

To get further information or to apply for a mortgage, fill in a form here and Tony will get back to you:- Contractor Mortgages

First Time Buyers Mortgages Bonanza | Contractor Mortgages

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UK Contractor Mortgages articles

First Time Buyers Mortgages

We are seeing a real a boom in First Time Buyers Mortgages. 2015, already, looks like a great opportunity for Contractors to buy their own homes.

Now, our mortgage partners, have announced a new low start mortgage that’s only available here for contractors.

Property Market

Boris Johnson has just announced two new deals which will help First Time Buyers Mortgages and allow Londoners to get on the housing ladder for the first time.

Those who don’t live in London, therefore, don’t qualify for these offers. However, our partners are working on getting similar deals for contractors in other places in the UK.

Indeed, they have great news of another new first time buyers mortgages deal that is available to all contractors in the UK. This comes from a first time buyers mortgages deal they have with a mortgage lender.

Contractor First-Time Buyers Mortgages Deal

Mainly due to the Government’s Help to Buy scheme, the number of first time buyers is up by 50% in just 2 years. the Halifax Building Society say this sector is at a 7 year high. It predicts that 2015 will be even better.

In response to this our mortgage partners have found a contractor-friendly building society who are happy to provide low-deposit first time buyers mortgages.

This great offer is only available to contractors through our mortgage partners. It gives contractors a 5% deposit mortgage with it being interest-only for the first 3 years. That’s a pretty good deal in this market. It goes back to being a repayment mortgage after that.

Low Start Mortgage Deals

The low start mortgage offers:

–  A 3 year variable rate at 4.45% based on a 95% Loan to Value (LTV)
–  Or a 3 year variable rate at 3.75% based on a 90% LTV
–  Interest only for the first 3 years, reverting to repayments thereafter
–  Based on our specially negotiated income measure of annualised contract rate, don’t need to prove your income with 3 years accounts
– £500 arrangement fee that can be added to the mortgage
Free valuation on your chosen property
–  No penalty for overpayments, as long as you don’t repay the full mortgage amount within the first 3 years

First Time Buyers Mortgages Partner

Our mortgage partners don’t charge a fee for arranging your mortgage. Other specialist contractor mortgage brokers charge up to £695 as an arrangement fee. So, you get their advice free.

To find out more, or to apply, fill in the mortgage form on this page:-

Specialist Contractor Mortgages

Halifax offer free valuation fees to home buyers – Contractor Mortgages

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Halifax Offer of Free Valuations

Halifax Offer

Contractors can now take an advantage of a Halifax Offer just for them.

House prices are continuing to rise. The average house is now worth 10.9% more than a year ago at £183,577.

The Independent Financial Advisers at ContractorFinancials have noted that all areas of the UK are experiencing this upturn in the housing market. It is not just confined to London and the South East.

According to Nationwide, in April buyer enquiries increased across the UK. Even more notably they also increased outside of London and the South East.

In fact the North West, North, the South West and East Midlands saw the most buyer enquiries. So, irrespective of where you live in the UK, the time is right to move onto or up the property ladder.

Moving House

As there are so many hidden costs involved in moving, can I actually afford to move?

Moving house can be an expensive process. Fortunately the specialist Advisers at ContractorFinancials are able to source which Lenders are offering the best value deals available to Contractors.

Free Valuation Fees

An exciting cost saving currently being offered by the Halifax is free valuation fees to home buyers. This is available to both first time buyers and home movers.

– The free valuation fees applies to all home buyers with a mortgage of £200,000 and above on selected products.
– The Halifax will refund your valuation fee if the initial purchase falls through.  You can still complete on another property with the Halifax.
– This offer is for a limited time only.

Save Hundreds of Pounds

This offering by the Halifax can save Contractors hundreds of pounds in free valuation fees. That can make a big difference when you are saving for a deposit.

If you want further information, or want to apply for one of these mortgages with Free Valuation Fees, you should click on Specialist Contractor Mortgages