Contractor Mortgages - What are they like...any good?

[Mark McBurney@CMME]

Hi JRCT, when you say there were no fees, do you mean no fees charged by the lender or no fees charged by Contractor Mortgages Made Easy?

I was of the opinion that they (Contractor Mortgages Made Easy) charged an upfront £899 fee for dealing with mortgages?

*£895 is our standard fee, Ben.

Hope you're good.

[PerfectStorm]

Do you need a certain amount of years history/accounts to get one of these contractor mortgages? Are 'new' contractors out of the game?

[Mark McBurney@CMME]

Do you need a certain amount of years history/accounts to get one of these contractor mortgages? Are 'new' contractors out of the game?

Hi PerfectStorm,

No trading history required necessarily, there are lenders who will consider your contract rate for a 'day 1' contractor. This does however depend on the rest of your circumstances, so is worth a chat with a broker to make sure you're looking at the right lender.

[JRCT]

Hi JRCT, when you say there were no fees, do you mean no fees charged by the lender or no fees charged by Contractor Mortgages Made Easy?

I was of the opinion that they (Contractor Mortgages Made Easy) charged an upfront £899 fee for dealing with mortgages?

Sorry, it's Contractor Financials that I'm going through. I can't be expected to keep up if they all have the same name.

But no broker fees with them.

[Willapp]

FWIW last year (May 2014) when they did our mortgage application we didn't have to pay a penny. The Halifax paperwork did mention that they were getting a commission (I think it even included the amount, £499 IIRC) but we didn't have to pay any fees at all.

Might have changed now but that was our experience.

Apologies, we were using Contractor Money (aka Contractor Mortgages). Names are all very similar so I got confused. that said do give them a call Contractor Mortgages Information and Quotation they really were great for us.

[Sausage Surprise]

Ben @ Power Mortgages sorted me out last year when none of the others could. Discounted fee for CUK members too.

[EVI]

Look no further than Martin from AS-Financial. I just got a mortgage and remortgage through them and had both agreed in 6 days! It was a probate property so it was a race to the survey to secure it. They pulled out all the stops and managed to secure the property even though the other parties had over a weeks head start over us.

Best of all, they don't charge a penny.

[Martin@AS Financial]

Look no further than Martin from AS-Financial. I just got a mortgage and remortgage through them and had both agreed in 6 days! It was a probate property so it was a race to the survey to secure it. They pulled out all the stops and managed to secure the property even though the other parties had over a weeks head start over us.

Best of all, they don't charge a penny.

Thank you for your feedback - thats really kind.

[Epiphone]

I used CMME a few years ago. Their mortgage service was good, got good rates, solved any issues etc. Their after-sales was rubbish in my experience. It was probably a one off though.

[d000hg]

I've looked at contractor-specific mortgages a couple of times but both times my local IFA was able to find a traditional mortgage who would accept us, although it has been a bit of hassle and stress when they ask for company accounts, then raise queries about them, etc.

I was quite impressed when Ben at Power Mortgages contacted me, he was helpful and not pushy at all, and upfront about that fact when they couldn't find much better than something else I'd already been offered.