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Mortgage Broker recommendations

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    Mortgage Broker recommendations

    I'm on the look out for a new home and would like to speak to recommended Mortgage Brokers for contractors (outside-IR35 / SoW model).

    I have stumbled across CMME and Freelance Financials - are these the best?

    #2
    Freelancer Financials for me. Used them for a number of years now. Both contractor residential mortgage and BTL's. Always spot on for me.

    They won best contractor mortgage provider at the last Contractoruk awards if that helps any.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

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      #3
      Ryan from Freelancer Financials is the best. I have worked with him for 10+ years and he works damn hard for his clients. Very highly recommended. Let me know if you need a direct line to him (no I do not earn referral fees )

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        #4
        +1 for freelance financials.

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          #5
          I was told today from Freelance Financials, I'd need at least 6 months as a contractor to get considered.
          I was a permie (Mar20-April21) until April this year, but a contractor previously for about 7 years. Unfortunately, Banks have now stricter rules and am classed as a Day-1-contractor... I've also heard very good positive feedback about them, just got a bit unlucky...

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            #6
            Originally posted by ChimpMaster View Post
            Ryan from Freelancer Financials is the best. I have worked with him for 10+ years and he works damn hard for his clients. Very highly recommended. Let me know if you need a direct line to him (no I do not earn referral fees )
            I always thought FF charge a fee - Is that the case?

            I ve had success with other fee free brokers ...

            Would like to try FF if they only take the lenders commission rather than also a fee from me

            Comment


              #7
              Originally posted by nevada View Post
              I was told today from Freelance Financials, I'd need at least 6 months as a contractor to get considered.
              I was a permie (Mar20-April21) until April this year, but a contractor previously for about 7 years. Unfortunately, Banks have now stricter rules and am classed as a Day-1-contractor... I've also heard very good positive feedback about them, just got a bit unlucky...
              I don't get that last line. You've heard postive feedback about them but it sounds like you are blaming them for the situation? Good feedback but.... type thing. You aren't unluck and it's nothing to do with FF. They are the rules imposed by the banks. It's always been a bit hit and miss as each lender has their own criteria when it comes to slightly specialised markets like contracting. Some say 6 months left on a contract, others don't mind that but can't have had a break in contracts in the last year and so on.
              In years gone by the lenders had also gotten much better at dealing with contractors and were able to offer on day rates and could accomodate perm to contract moves during the years they calulate over. That said I would have thought you were always classed as a day 1 contractor because that what you are and we all were. They could take a mix of your perm in the last two years but your offer would be considerably lower for it. Only when you've a good history of a contractor are they willing to take the risk of your day rate on. No one in their right mind would lend a contractor who's less than a few months (or more) based on day rate they've no history they can sustain.

              I don't think you've got unlucky, it's just the way the risk model works and has always worked.

              That said I do hear the contractor mortgage market is much harder than it was. All that work to get the banks to understand how we work and lend based on that does seem to have fallen by the wayside. Most likely a knee jerk reaction to IR35 as they believe you can't be outside for long periods so will affect the criteria. Sad really. we were nearly there.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #8
                Originally posted by NowPermOutsideUK View Post

                I always thought FF charge a fee - Is that the case?

                I ve had success with other fee free brokers ...

                Would like to try FF if they only take the lenders commission rather than also a fee from me
                They may offer some products that don't require a fee but their market is contractors and freelancers and being specialised products banks don't offer commission on them. You'll not find a broker specialising in contractor type products that doesn't offer a fee and it's likely you won't be able to apply for contractor specific mortgages through a standard broker either.

                Some of the products for us that are (were) available were beating many high street standard products so refusing to pay a few hundred quid to potentially get a better product is a bit counter productive..but fill your boots.
                'CUK forum personality of 2011 - Winner - Yes really!!!!

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