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Historically, mortgage companies have been reluctant to lend to consultants, surveyors, engineers, business analysts and other contracting professionals, deeming them to be ‘high risk’ due to the nature of their work. Thankfully, the tides are now changing.
More providers are beginning to understand the plight of the independent worker and are ready to open their doors to self-employed applicants. Annualised contract rates are now widely used as a means of assessing mortgage affordability, and this level of standardisation within the mortgage industry has been a lifeline for contractors, who are either looking to buy a property for the first time or remortgage their existing home.
If your income patterns are irregular or you have only been contracting for a short period of time, you may however struggle to find the right deal. But, our team are at hand to help you find a contractor mortgage that offers affordable interest rates and favourable terms, regardless of your working circumstances.
We have access to a broad range of lenders who can offer great deals for contractors in all kinds of professions. What’s more, we also liaise with third parties and complete all paperwork on your behalf, leaving you to carry on with your working day safe in the knowledge that your mortgage or remortgage is well in hand.
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