Best Contractor Mortgage Rates

Best Contractor Mortgage Rates

Best Contractor Mortgage Rates

You usually get the best contractor mortgage rates from using specialist contractor mortgages brokers.

High street banks and building societies usually look upon contractors as a risk. To their minds, contractors don’t have regular income like a permanent worke doesr.

So, if you walk into one of those looking for the best contractor mortgage rates you are going to be disappointed. It is usually the case that contractors have to provide three years worth of accounts to them. Furthermore, they base the offer that they give the contractor on their Director’s salary. That doesn’t get you much.

Specialist Contractor Mortgages Brokers

Because they are considered a risk the mortgage rate they are offered is usually quite high. So, that’s why contractors should use specialist contractor mortgages brokers if they want to get the best contractor mortgage rates.

They can even use Help To Buy to get contractors offers of up to 95% of the property value.

One such specialist contractor mortgages broker is Tony Harris. He has been getting IT Contractors mortgages for over 10 years. Now he is able to get all sorts of contractors mortgages.

Best Contractor Mortgage Offers

He can get the best contractor mortgage rates because he has built up credibility over the years with lenders. Contractors have helped him get this credibility by contractors paying their mortgages regularly. They have not defaulted on their mortgages.

So, that’s why Tony is able to get the best contractor mortgage rates for contractors. He can also get offers based on their daily rate. Multiply your daily rate by 5, then 48 and then 4 to get what your likely mortgage offer is likely to be.

Often the offer is better than market rates. Thank your fellow contractors for giving Tony his credibility so that he can get you the best contractor mortgage rates.

The other great thing is that he is able to get the best contractor mortgage offers just on production of your contract. You don’t have to produce three years worth of accounts.

To find out more, or to apply, you should click on Specialist Contractor Mortgages

Best Contractor Mortgages

Best Contractor Mortgages Rates & Offers

Contractor Mortgage Options for UK Contractors

Contractor Mortgage Options now

Contractor Mortgage Options

The Contractor Mortgage options for UK Contractors are twofold.

1.  You can step in to a high street bank and ask for a contractor mortgage or

2.  You can contact a specialist contractor mortgages broker

The first of the contractor mortgage options is what most contractors take – but it is madness.

The second of the two contractor mortgage options is the clever one – but only the contractors in-the-know are able to benefit from it.

High Street Bank mortgages for contractors

If you step into the high street bank, or building society, they will:-

a) Ask to see three years worth of accounts, meaning you will have to have been a contractor for at least 3.5 years

b)  Give you a quote based on your director’s salary. We all know that contractor prefer to keep that as low as possible. They want to take their money out in dividends and so maximise their returns.

You would have got a bigger offer if you had stayed in a permanent role.

Specialist Contractor Mortgage Brokers

So, what about the second of the contractor mortgage options?

That’s the sensible one.

A specialist contractor mortgages broker will:-

a)  Get you a quote on production of your contract without having to show three worth of accounts to get a contractor mortgage

b)  Get you a quote based on your day rate annualised.

Your Contractor Mortgage Quote

So, if you got £500 a day, that would be £2,500 a week.

They would multiply that by 48 to get your annual ‘salary’. That would make your annual salary £120,000 a year.

They would then multiply that by 4 to get your specialist contractor mortgage offer.

So they would offer you a contractor mortgage of £480,000.

As you would have to put down a deposit of a minimum of 5% you are talking about being able to buy a property worth more than half a million pounds.

This is the best of the contractor mortgage options.

Specialist Contractor Mortgage Broker

Tony Harris has been getting contractors specialist contractor mortgages for years now.

Because his client contractor have been paying up and not defaulting, he can often get contractors mortgage rates at better than current market rates.

He can even get contractors mortgage offers on the very first day of their first ever contract.

To find out more, or to apply, you should click on Specialist Contractor Mortgages

Best Contractor Mortgages Deals for UK Contractors

Best Contractor Mortgages Deals

Best Contractor Mortgages Deals

The Best Contractor Mortgages deals can be got from Specialist Contractor Mortgages brokers in the UK.

The Foolish Contractor walks into a high street bank or building society to ask for a contractor mortgage. The bank or building society tell him or her:-

1.  As you are a contractor and your income is not as secure as that of a permanent member of staff, we would have to get three years worth of accounts from you

2.  We will base any offer to you on your Director’s Salary.

Foolish Contractor

Many years ago, I was a foolish contractor. I didn’t know about specialist contractor mortgages brokers in the UK. I simply decided that I would have to wait a few years to get a mortgage for a house or flat. However, it wouldn’t be a great place I could afford if it was only based on my Director’s salary.

So, I continued to waste tens of thousands of pounds by continuing to rent.

However, if I had known about specialist contractor mortgages brokers like Tony Harris all those years ago I would be much richer now. Tony has been getting the best contractor mortgages deals for years.

He started by getting specialist contractor mortgages for IT Contractors. Now he can get those specialist contractor mortgages for all contractors.

Initially lenders were wary about lending to contractors. However, Tony managed to talk them into dipping their toes in the water.

Now, because those initial contractors have paid up on their mortgages and very few have defaulted, Tony has great credibility with the lenders. He can often get contractor mortgage offers at better rates than the marketplace.

Crucial Factors

However, here are the two crucial factors:-

1.  He can get contractor mortgage offers based on their daily rate annualised (daily rate x 5 x 48 x 4).

2.  He can get the quote just on production of the contractor’s contract, rather than the lender having to see 3 years worth of accounts.

In other words, he can get the best contractor mortgages deals on the marketplace for his contractors. Furthermore, he can get new contractors the best contractor mortgage offers on the very first day of their very first contract. This has revolutionised the contractor mortgages market.

Best Contractor Mortgages Deals

To find out more info or to get the best contractor mortgages deals and a quote click on Specialist Contractor Mortgages

Remortgage Deals | Cracking one-off rates for Contractors

Remortgage Deals

Remortgage Deals

There are a number of cracking remortgage deals for contractors at the moment.

Remortgage rates are at record lows as Lenders enter in to a price war in the run up to Christmas. It is a desperate bid by lenders to improve their lending stats before they have to show their books to the City. This is following a relative lending drought post MMR last spring.

As such, Contractors are in the ideal position to cash in and get remortgage deals on to a two-year fixed rate. This will enable them to ride out the widely predicted base rate increases expected in 2015.

Competitive Remortgage Deals

One contractor friendly Lender has launched a range of highly competitive remortgage rates which are based on contract rate alone. So you avoid the hassle of proving your income using company accounts.

You can, often, borrow more than your permie colleagues. Depending on how much equity you hold in your property you can access the following rate:-

– 60% LTV on a 2 year fixed rate at 2% with a £999 arrangement fee.

– 75% LTV on a 2 year fixed rate at 2.29% with no arrangement fee.

– 85% LTV on a 2 year fixed rate at 2.69% with no arrangement fee.

Remortgage Deals Only

All of these rates are available on remortgage only. They are to supplement the first time buyer rates which Halifax launched last week from as little as 2.99% at 90% LTV.

However, this is likely to be a flash sale. This is because when they release rates during a price war, they rarely stay around for long as Lenders test the market before stabilising their product book.

Contractors should act quickly to secure these competitive rates. They can then ride out the possible base rate rises and uncertainty that may be on the horizon for next year.

You are best to get contractor mortgages through specialist contractor mortgage brokers.

To find out more about these astonishing remortgage deals you should click on Specialist Contractor Mortgages and fill out the form there.

Astounding Mortgage Price War for Contractor Mortgages

Mortgage Price War

Mortgage Price War Starting

An astonishing one-off mortgage Price War has started for specialist contractor mortgages.

This is because several lenders have not met their government targets for lending to customers. They have discovered this after the recent mortgage market review.

We are now into the 4th quarter of the year and there are major penalties for the lenders if they do not meet their targets. So, this has led to a mortgage price war.

They are playing catch-up here and are desperately trying to loan more money to meet their targets.

First Time Buyers

First time buyers will be one of the groups that will benefit greatly from the mistakes of the major lenders in not selling enough mortgages.

Therefore, specialist contractor mortgages brokers have been quick to get in on the act in this one-off mortgage price war.

Tony Harris has been dealing in specialist contractor mortgages for years. He has stepped into the market turmoil to grab some great contractor mortgages deals.

Some lenders need desperately to get more mortgages out before they report to the City watchdogs.

Great Deal from Halifax

So, Tony has managed to get a great deal from the Halifax especially for contractors. It is a one-off flash sale and a limited edition mortgage offer.

They are making this offer to all contractors even if they are half way through their contracts as they are so desperate to unload them to meet Government targets before they report.

They are, therefore, offering mortgages with a minimal deposit.

This mortgage price war is a once in a lifetime opportunity for contractors due to the fact that the lenders have screwed up and are now desperate.

Contractor Mortgages Details

The details of this exciting product launch are –

2 year fixed at 2.99%
– Up to 90% loan to value (LTV)
– available to first time buyers only
– Maximum loan size is £750,000
– No arrangement fee

Double the Deposit

Even a week ago contractors would have needed double the deposit to secure this low-interest rate.

This mortgage price war is great news for Limited Company contractors who have kept company drawings to a minimum for tax purposes.

The rates are not just available for first timers.

These rates are part of a range of packages available only for contractors through Tony. There is no charge for advice or for getting you the loan.

Lender Desperation

This mortgage price war is a once in a lifetime opportunity to get those rates due to the desperation of some lenders to sell mortgages at any price at all. However, it is first come first served till the lenders have met their targets.

To find out more or to apply you should click on Specialist Contractor Mortgages  and fill in the form there. Tony or one of his team will be in touch quickly with a mortgage offer.

House Prices to Rise by 30%

House Prices to Rise

House Prices to Rise

House prices to rise by 30% according to a new survey due to greater demand.

They are expected to rise by 30% over the next 5 years in the UK according to Rightmove, an online property portal.

House prices in London are expected to rise by 33% over the next 5 years despite signs of a recent cooling.

In the South East, house prices are predicted to rise by 37%. This will be caused by people moving out of the capital into commutable areas where the house prices are less onerous.

For instance, house prices in Southampton and Luton are expected to rise by 43% and 41%. They will rise in Brighton by 41% and Swindon by 40%.

The North West will see the slowest house price rises. However, they will still be up by 24%.

Good Time to Buy

This would be a good time to buy before house prices rise any more.

If you are looking to buy, contractors would be best to get quotes from specialist contractor mortgages brokers. Tony Harris  has been getting contractors mortgages for over 15 years.

For instance, if you walk into a high street bank or building society they will demand to see three years worth of accounts before they would even think of offering you and contractor mortgages.

Furthermore, they would also base their offer on your Director’s salary, which most contractors like to keep low.

Daily Rate Based Offers

Specialist contractor mortgages brokers can get you quotes based on your daily rate annualised. They would calculate your yearly income as Daily Rate x 5 x 48. Furthermore, they would then make you an offer of around 4 times that depending on circumstances.

With Help to Buy you can now get contractor mortgage offers of up to 95%.

It seems that Tony can get first time contractors contractor mortgages offers on the very first day of their very first day contracting. It seems that they can have the keys to their dream homes in just 4 to 6 weeks after starting their first contract.

To find out more about specialist contractor mortgages or to apply you should click on Specialist Contractor Mortgages

95% Specialist Contractor Mortgages now available for all Contractors

Mortgages Now Available

Mortgages Now Available

95% Specialist Contractor Mortgages now available.

For years Tony Harris has been getting specialist contractor mortgages for IT Contractors. This was based on their daily rate rather than their Director’s salary the way a High Street Bank would calculate it.

Also, the contractors wouldn’t have to produce three years worth of accounts like they would have to with a High Street Bank.

He has a deal with a major contractor mortgage provider that uses his credibility with them to get contractors mortgages.

Types of Contractors such as Engineers, Bankers, Oil & Gas Workers, Construction Workers and Media Workers can now benefit from these specialist contractor mortgages now available. They are also available to Freelance Professionals such as Doctors, Nurses, Teachers, Accountants and Business Consultants. This is all based on Tony’s credibility with the lenders and the good business he has brough them in the past.

Previously all lenders based their lending on Director’s Pay. That is a lot less than their daily rate, with the exception of IT Contractors who had this deal before.

Contractor Mortgages Deal

So, how do you get one of these mortgages now available?

Firstly you must be earning a daily rate of at least £300 a day or £75,000 a year – and that’s basically it.

It doesn’t matter how long you have been contracting and you don’t have to produce accounts. Even if you are only a day into your first contract you can still apply. Tony tells me that he would expect you to be walking into your new house 4-6 weeks after you apply. He can get a decision in days.

Any contractor in any sector, no matter their experience, can now get 90% mortgages. They can take that to 95% using the Government’s Help to Buy scheme.

Interest Rates

The interest rates for the various loans are as follows:-

o 60% LTV mortgage at 2.29%,

o 75% LTV mortgage at 2.74%

o  85% LTV mortgage at just 3.74%.

There’s a £999 arrangement fee which can just be added to the loan.

Bigger Loan

In terms of the amount offered, this lender will beat the normal 4 times Director’s salary. They will make it 5 times the daily rate annualised.

So, if you are making £400 a day, that would be an annual rate of  £95,000 to £100,000. This would mean that you could get a mortgage offer of £475,000 to £500,000. You would get that just one day into your first ever contract.

Tony has a dedicated underwriter and case handler. This means he can get you a quote and an agreement in principle within hours of you contacting him. It has happened that contractors are in their new home within a week of their initial enquiry.

Pundits are panning the Government saying that they are going to cause a new housing boom due to their new Help to Buy policy. Furthermore, agents are reporting a major upturn in enquiries since Help to Buy was announced. This appears to be the time to buy or contractors may miss the boat.

How to Apply

To make further enquiries about mortgages now available or to ask for a quote based on your rate fill in the form at Specialist Contractor Mortgages and get your enquiry answered or a quote within a couple of hours or even quicker.

Making money when you are out of work

Making Money when out of work

Making Money

We advise you on making money when you are out of work.

Booming Houses

The property market is booming in the South of England, and further north as well. This will not last forever. At some point, i.e. when the recovery starts and interest rates rise, property prices, especially in the south, are going to turn downwards.

What can the people who are out of work do about this in terms of benefitting and making money? Well, if they are out of work, there is no reason that they need to continue living where they are currently.

If you are out of work, it might be an idea to sell your house in the South of England. Buy one in Scotland (outside Edinburgh or Glasgow) where the prices haven’t gone up by much so far. It’s a good way of making money.

Buy Value Property

If you had a property worth, say, 400 grand, you might save yourself a drop to 350 grand. You could buy one in Scotland for 400 grand. If you bought in Scotland, you might find, in the next year, that it had increased to 500K. This would mean that you are net 100K richer (less costs).

You would get a fantastic house in Scotland for 400K. Also, your wealth would increase by more than you would earn contracting (without the tax), whilst doing nothing (except a spot of salmon fishing).

Making Money from your House

You would make £100,000 on the house and saved yourself a loss of £50,000 on your previous property. Isn’t that a good way of making money? That’s as while having a holiday in Scotland for a year

When the market picks up next year, sell your house in Scotland and come back south. You would pick up a better house / flat than you had before.

Wouldn’t it be nice to breeze back down to the South of England and back to work after a nice year off, whilst your house in Scotland appreciated, and your house / flat back in the South depreciated?

To assist in this here is how to get in touch with a Specialist Contractor Mortgages  Broker

Contractor Mortgage Offers – Calculation of your offer

Contractor Mortgage Offers best rates

Contractor Mortgage Offers

Contractor Mortgage offers can vary greatly. Indeed if you went into a high street bank or building society they would base it on your Director’s salary. We all know that wouldn’t lead to great contractor mortgage offers.

They may not even give you an offer as they need three years worth of accounts as well.

If you go to a specialist contractor mortgages broker like Tony Harris, contractor mortgage offers are based on your daily rate annualised. That’s much better, isn’t it?

It’s basically Daily Rate x 5 times 48 times x 4. The last figure would be up to 5 depending on circumstances and how much deposit you put down.

However, a very rough figure would be got at for your contractor mortgage offers by multiplying your hourly rate by £7,200.

Example Offers Based On Rates

Hourly Rate – Offer

£20 – £144,000

£30 – £216,000

£40 – £288,000

£50 – £360,000

£60 – £432,000

Indicative Guide

It has to be said, again, that this is very rough and depends on your circumstances what your contractor mortgage offers are.

However, it is an indicative guide as to what you can get. Through specialist contractor mortgage brokers like Tony, you can get a mortgage offer within hours of the very first day of your very first contract.

There didn’t used to be specialist contractor mortgage brokers when I started contracting and I was ‘blown off’ by building societies and high street banks when I went looking for contractor mortgage offers. The three years of accounts needed were a killer.

Specialist Contractor Mortgages

However, Tony persuaded banks and building societies that there was a lucrative new market for them in loaning money to contractors. They dipped their toes in the water. When the contractors kept up to date with their mortgage payments and didn’t default, it gave Tony lots of credibility with the loaners.

Since then he’s been able to get more and more contractor mortgage offers for more and more contractors. It’s at good rates too.

To find out more or to apply you should click on Specialist Contractor Mortgages

Help to Buy scheme – Can I use it? | Contractor Mortgages

Help to Buy Scheme

Help to Buy Scheme

Would I be entitled to use the Help to Buy scheme?

The government has been under increasing pressure recently to review the Help to Buy scheme as it has been brandished as the catalyst for the so-called ‘housing bubble’. It would be quite damaging if the Chancellor was to turn his back on the Help to buy scheme now. This is because so many first time buyers have now got a foot up on to the housing market across the UK.

Official figures from the Department of Communities and Local Government have announced that approximately 74 borrowers are purchasing a house through Help to Buy on a daily basis.

Help to Buy Mortgages for contractors

Help to Buy Mortgages for UK Contractors

Specialist Contractor Mortgages

The Help to Buy scheme has enabled many prospective buyers who have been stuck on the sidelines of the property market. This is because they are unable to put together the necessary deposit. The average deposit put down by a borrower on the Help to Buy scheme was £13,031 in April. This compares to the average deposit of £61,325 from a buyer not using the scheme.

As a Contractor you too can benefit from this excellent scheme. There are certain criteria to meet in order to qualify. Equity loans are available to both first time buyers and home movers on new build homes in England. This is for a purchase price up to £600,000.

Who Is Eligible?

However, you would not be eligible if you already own a property. Also, you cannot sub-let the property. You require a 5% deposit. The Government will give you a loan up to 20% of the price. You will need to obtain a mortgage to cover the remaining 75%.

Please click on Specialist Contractor Mortgages. Then fill in the contact form for further details of the Help to Buy scheme rates. They’ll give you the current Halifax free valuation offer.