Monthly Archives: January 2015

Top contractor mortgage deals for UK Contractors

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Best Contractor Mortgages

Top Contractor Mortgage Deals

Our mortgage partners have negotiated a number of top contractor mortgage deals.

Is it a good time to go for a variable rate?

Many house owners are expecting the interest rates from their variable mortgages to rise within the next year or so which will increase their repayments. So, contractors would be best to take a fixed rate mortgage if they want the top contractor mortgage deals.

Our partners have got credibility in the specialist contractor mortgages market. This is because their contractors have made all their repayments and don’t tend to have to give back the keys.

This is, also, because most of them take fixed rate mortgages and don’t have the worry of repayments rising when interest rates go up. Therefore, it’s as good a time as any for contractors to take fixed rate loans.

Here’s a tip. Recently the difference between 2-year and 5-year fixed rate mortgages has narrowed. So, it would be a good idea for contractors to pay the little extra and fix for 5 years rather than just 2 years.

Specialist Top Contractor Mortgage Deals

Our partners have found a new lender in the specialist contractor mortgages market who have this top contractor mortgage deal:-

– A 2 year fixed rate at 2.29% based on an 85% LTV
– £999 arrangement fee that can be added to the mortgage
Or
– A 5 year fixed rate at 3.29% based on an 85% LTV
– £1,999 arrangement fee that can be added to the mortgage
Another great deal secure by our mortgage partners with yet another lender is for those who only have a 5% deposit and have been contracting for more than 3 years.
They are offering:
– A 3 years fixed rate at 4.99% based on a 95% LTV
– No arrangement fee

Specialist Contractor Mortgages

Our contractor mortgages partner’s advisers will give you the best advice on which options are best for you for top contractor mortgage deals.

So, to find out more, or to apply, fill in the mortgage form at the bottom of this page:-

Specialist 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

British Contractor Mortgage Rates start with a Bang in 2015

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British Contractor mortgage rates available

British Contractor Mortgage rates

You really do need to see British Contractor mortgage rates at the moment to believe them. They are sure to rise at some point after the election, so it is worth taking them now.

2014 is being heralded as the strongest year for mortgage lending since 2008. This is according to the Council of Mortgage Lenders (CML). However, 2015 looks set to follow in its footsteps. January has seen record low British Contractor mortgage rates.

Contractor Mortgages Best Rates

Since the New Year we have seen two-year fixed rates fall as low as 1.64% on a 60% LTV from Contractor champion Halifax which is an outstanding rate for Contractors with a substantial deposit.

This product does carry an arrangement fee of £1,499 from the Lender. However, this can be added to the mortgage rather than paid up front.

Best rates for Contractors with Lower Deposits

If you have less savings to put down, however, you won’t be disappointed. This is because a relative newcomer to the Contractor Mortgage market, Metro Bank, have released a raft of very competitive fixed rate mortgages at higher loan to values. These include 2 year fixed rates at:

– 1.99% on a 70% LTV
– 2.04% on an 80% LTV
– 2.29% on an 85% LTV

All of these rates carry a £999 arrangement fee from the Lender. However, you can add this to your mortgage so you won’t need to find the cash up front. The minimum loan amount is just £20,000 up to a maximum of £1,500,000. So, it suits Contractors buying at every level of the housing ladder.

5 year fixed rate mortgages at 2 year fixed rates!

Furness building society have launched a five-year fixed rate mortgage at just 2.94% on an 80% LTV. This is closer to the UK Contractor mortgage rates we have been seeing for two-year fixed rate products in recent months, particularly at this LTV level. Again this product carries a £999 arrangement fee but this can be added to the mortgage.

If you are considering fixing your mortgage for longer, to ride out any fluctuation in the market, then this Contractor-friendly Lender is offering a highly competitive rate. This should see you through the inevitable rise in the base rate over the next five years.

These British Contractor mortgage rates are exclusive to our specialist contractor mortgages partners.

British Contractor mortgage rates have never been better. To find out more from a mortgage Adviser today, or to apply, you should fill in the form on this page – Specialist Contractor Mortgages

Contractor Mortgages market boost from Help to Buy

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Contractor Mortgages market boost

Contractor Mortgages Market Boost

There has been a major contractor mortgages market boost from the new Help To Buy programme implemented by the Government.

Of course, we all know that Help to Buy was brought in by the Government to raise the price of houses so that there would be a feel good factor at the next election. People would feel a bit better off if their houses were rising in price.

However, the contractor mortgages market boost that the Help to Buy scheme has produced has been positive for contractors. It has especially allowed new contractors to get on the property ladder.

Banks and Building Societies

Previously banks and building societies were demanding a 20% deposit from those seeking loans. That was keeping first time buyers out of the market. It is first time buyers who are the lifeblood of the market.

The economic Laws of Supply and Demand kick in here. If there are fewer people competing to buy houses then the price will fall. If there are more people competing for houses then the price will rise. Those first time buyers will become second house buyers at some point.

Average house prices for first time buyers rose by 11% last year compared to 9.5% for existing owners.

Help to Buy Scheme

The Government’s Help to Buy scheme has caused this contractor mortgages market boost. Now, new buyers only have to come up with a 5% deposit instead of a 20% deposit. That makes a huge difference and has brought plenty of people into the market.

First time buyers last year paid an average £208,000 for their first homes. A 5% deposit would have come to an average of £10,400 which is easily payable by a contractor. A 20% deposit would come to £41,600. Even contractors would have to wait a while to gather that deposit.

UK House Prices

Existing owners paid an average of £312,000 for a house. UK house prices rose 10% overall last year. With a rise of 10% last year that gives a rise of 21% in two years.

Contractors would be much better to get their contractor mortgages through specialist contractor mortgage brokers as they get better rates and better offers and don’t have to show accounts.

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

Best Contractor Mortgages

Best Contractor Mortgages Rates & Offers