Mortgage advice

[Sockpuppet]

Really? Surprising. Maybe you are a low payed contractor?
I got a mortgage 200K through Alliance and Leicester no problem, with 3 months proof of earnings.

How much did you have to prove you earnt? (if you dont mind me asking).

At the absolute minimum I could expect £200/day just wondering what I can look for?

[el duder]

How much did you have to prove you earnt? (if you dont mind me asking).

At the absolute minimum I could expect £200/day just wondering what I can look for?

Well my last contract was through an umbrella company, so i just provided them with 3 months payslips. Averaging £3k per month take home.

I was earning around £250 per day. But same as you, my minimum would be £200.

I just went through a local mortage company advised by the agent. I had an offer from A&L within 2 weeks.

Cause of the nature of my work, I did have to pay an extra indeminty insurance on the loan, which was about 5k.

My original mortgage offer was £197k with 5% deposit.

[Sockpuppet]

Hmm...well looks like I should be able to afford this.. http://www.rightmove.co.uk/property/13523036

Hopefully pay it off in 3 - 4 years.

My current rate is £250 but been asked to interview for a £350 roles, my plan B provides £140/day as a minimum so even at that should be able to afford it even if I ditch contracting.

[Troll]

I was earning around £250 per day. But same as you, my minimum would be £200.

Are you both Indians?

[glashIFA@Paramount]

Hi,
I've been contracting for a little over a year, and I'm looking for mortgage advice. I've popped into a high street bank who explained I'd need to go via an IFA/broker as they consider me to be self employed (fair enough) but as such I'd require three years of records before they'd humour me.
I've found contractorMoney.com who were helpful, but I'd be interested in any views or advice you could give.

Thank you in advance
Ian

Any good IFA should be able to help you if they know the right lenders. Don't need to be considered self-employed. i do lots of mortgages for IT Contractors.

[boredsenseless]

Make an appointment with a senior mortgage adviser at Halifax they generally waive the rules so long as you can prove what you've earned so far, (that you took it out of the company not that you invoiced it) and that you have a contract with a month or so left on it. And a letter from your accountant.

[AnotherIan]

Really? Surprising. Maybe you are a low payed contractor?

I got a mortgage 200K through Alliance and Leicester no problem, with 3 months proof of earnings.

?

I'm on market rates for a financial developer, so I get by. The guy I spoke to in the halifax showed me some emails he'd received regarding contractors just before christmas which explicitly state that a contractor is to be deemed self employed and as such must provide three years of accounts. I'm not sure if there's an alliance and leicester near here, but I'll check, it might be worth a go.

[AnotherIan]

Make an appointment with a senior mortgage adviser at Halifax they generally waive the rules so long as you can prove what you've earned so far, (that you took it out of the company not that you invoiced it) and that you have a contract with a month or so left on it. And a letter from your accountant.

That's interesting to know. I'll investigate this. I have a reasonably large deposit after my projected costs, which I would hope will help grease the wheels.

[Darren@UptonAccountants]

Mortgages

I'm on market rates for a financial developer, so I get by. The guy I spoke to in the halifax showed me some emails he'd received regarding contractors just before christmas which explicitly state that a contractor is to be deemed self employed and as such must provide three years of accounts. I'm not sure if there's an alliance and leicester near here, but I'll check, it might be worth a go.

The Halifax are very risk averse so tend not to be too eager to do anything different.

Maybe worthwhile talking to Glash above he'll have a few options.

[el duder]

Hmm...well looks like I should be able to afford this.. http://www.rightmove.co.uk/property/13523036

Hopefully pay it off in 3 - 4 years.

My current rate is £250 but been asked to interview for a £350 roles, my plan B provides £140/day as a minimum so even at that should be able to afford it even if I ditch contracting.

£139,950 you should piss that easy.

Come on challenge yourself. Go for a nice big one bed farm conversion manor house in the country like me!