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There is a wide range of contractor mortgage products offering competitive mortgage interest rates and we can help you secure one that’s right for you. What this means is we can assess your affordability with a shortlist of various lenders to maximize which mortgages are available to you and find the cheapest mortgage for your circumstances. We can help you whether you are looking for a standard contractor mortgage for your new home, a buy-to-let mortgage, Help to Buy or a first-time buyer mortgage.
Fixed Term Contracts
This is where a job is only for a set period, although the contract may be renewed or extended. Where applicants state that their current contract is unlikely to be renewed, we have lenders who
Agency and Temporary Workers
If you are working on a temporary contract through an agency it may be acceptable, provided the agency can complete an employer’s reference confirming the applicant has been employed on that basis for a minimum of 12 months. Speak now to an advisor who can offer guidance for your personal circumstances. We have mortgages for agency to help you in most circumstances.
It is estimated that 14% of the UK’s professional contractors are currently managing their business by working through an umbrella company. Umbrella companies have become more prevalent in the UK since the British government introduced so-called “IR35” legislation. It is estimated 1.56 million are “classed as being in a management or senior official role, a professional occupation or an associate professional and technical occupation.” If you fall into this category then you may find obtaining a mortgage is now more difficult. Our advisors can offer expert advice and arrange a mortgage quotation taking into account for you individual circumstances.
To find out about guarantor mortgages, speak to one of our expert mortgage advisors.