House purchase - 10% deposit versus 20% and other factors

[northernladuk]

And a very timely article....

Corporate Charges Set to Rise - Contractor Weekly

Budget 2016 announced that the corporate charge (s.455 charge) on loans to participators will rise from 25% to 32.5% as from 6th April 2016, so as to prevent an unfair tax advantage being obtained by taking a loan from the company rather than salary or a dividend. The new rate applies to loans, advances and arrangements made on or after 6th April 2016.

[PerfectStorm]

By the way of the Halifax rate seems a little high - it's because the fee is 500 (rather than 1000) and you get £2000 cashback in the first month

[AnotherGuy]

Sorry to hijack this thread, but I wanted to ask if you are using a "mortgage broker" and if so, is there any fee to be paid to the broker?

I'm trying to compile a list of brokers who don't charge any fee to the client but instead get their commission from the bank.

Thanks!

[northernladuk]

Sorry to hijack this thread, but I wanted to ask if you are using a "mortgage broker" and if so, is there any fee to be paid to the broker?

I'm trying to compile a list of brokers who don't charge any fee to the client but instead get their commission from the bank.

Thanks!

But are you sure those brokers understand contractors and have access to the contractor friendly products? Do those products actually pay commission?

[PerfectStorm]

Sorry to hijack this thread, but I wanted to ask if you are using a "mortgage broker" and if so, is there any fee to be paid to the broker?

I'm trying to compile a list of brokers who don't charge any fee to the client but instead get their commission from the bank.

Thanks!

I tried all the contractor brokers and, after their fees, all of the products offered were more expensive than going direct to Halifax, all of whom's staff are trained to accept contractors. There's even an option for it when you apply for a mortgage online.

Always question what you're told.

[ChimpMaster]

Sorry to hijack this thread, but I wanted to ask if you are using a "mortgage broker" and if so, is there any fee to be paid to the broker?

I'm trying to compile a list of brokers who don't charge any fee to the client but instead get their commission from the bank.

Thanks!

I would say the fee is worth it but my opinion is from an investor POV where I have needed multiple mortgages over time. Freelancer Financials gets my vote every time.

Ultimately you get what you pay for.

[dx4100]

I tried all the contractor brokers and, after their fees, all of the products offered were more expensive than going direct to Halifax, all of whom's staff are trained to accept contractors. There's even an option for it when you apply for a mortgage online.

Always question what you're told.

Interesting to know! cheers

[northernladuk]

I would say the fee is worth it but my opinion is from an investor POV where I have needed multiple mortgages over time. Freelancer Financials gets my vote every time.

Ultimately you get what you pay for.

Absolutely this. Same experience for me and no regrets.