Halifax Mortgages

**matzie** · 26 March 2012, 06:19

I've had an outstanding service from Contractor Money ( = Contractor Financials). My pre-contracting credit rating was poor and I didn't expect to be able to get a mortgage at all to be honest. I had zero trouble though and they arranged a deal for me at a great rate, and helped me every step of the way. When I think that they get less in commission for the whole process than I bill for in a day, I don't know how they do it - but I can't recommend them highly enough.

**psychocandy** · 26 March 2012, 08:46

Originally posted by kingcook View Post

I went to see the Halifax mortgage advisor this week about buying a house. I'm an existing mortgage customer and wanted to get a "consent to lease" (CTL) for my existing house, and buy a new house by taking out a new mortgage.

I've read others on this forum have had problems with getting high street banks to understand how an IT contractor gets paid, i.e. paying a low salary and the rest as dividends.

Apparently, I have to contact head office re: the CTL. They may or may not decide to move me onto a different type (higher rate) mortage

Onto the mortgage for the new house, the advisor took both my £7K salary and £35K dividends into account

but wanted to see 3 years worth of accounts (however, they were willing to accept 2 years worth and a projection for the 3rd year).

I don't quite have 2 years accounts yet, it's a no (at least with the Halifax) for now. "Come back when you have 2 years worth of accounts", i was told.

I know others on here have had luck with just quoting their daily rate. I tried in this case but the advisor wasn't interested.

Assuming they like the look of my 2+ years accounts (if/when i provide them next month), i can have a slightly lower than anticipated amount with a slightly higher than anticipated rate (5.99%)

Looks like it's time to speak to one of the few contractor mortgage brokers out there.

Yes. Traditional lenders are complete bellends when it comes to dealing with contractors.

I even recently applied for a loan and got told because I was a temp my income is classed as ZERO. Apparently, if I was claiming job seekers that would have been income (it was joint application with my mrs).

**Support Monkey** · 26 March 2012, 09:00

Contractor money all the way, when you go with one high street lender they generally only sell you their own products where as you get to see all the availble deals with a broker and your not dealing with the spotty youths in the branch who do not have the authority to stray from the script

just get your certificate for letting from the halifax then go to contractor money for the Mortgage

**Scrag Meister** · 26 March 2012, 09:31

What are the rates like from Contractor Money's selection of mortgages?

When I was looking for a mortgage back in early 2009 the rates from brokers were rubbish and I just waited out til 2 years was up and my current lender Santander came up with tracker at 0.49% above base, so that's 0.99%.

**kingcook** · 26 March 2012, 12:58

I'd be interested in actual rates offered by contractormoney.com aswell. Halifax's 5.99% tracker is a rip-off, when you consider that one is going to get royally screwed when the BoE base rate moves upwards.

**redgiant** · 26 March 2012, 13:06

Originally posted by kingcook View Post

I'd be interested in actual rates offered by contractormoney.com aswell. Halifax's 5.99% tracker is a rip-off, when you consider that one is going to get royally screwed when the BoE base rate moves upwards.

It's 3.99% I believe for the tracker or 5.29% if your above 75% LTV. I'm toying with remortgaging once my 2 year fixed rate expires in June now the rates have gone up and i'll end up paying out more than I am now.

Interesting that Halifax have told you that they need 2 yrs of accounts. I spoke to a Halifax mortgage advisor in Feb at my local branch in central London and he said that all they needed was 1 yr of accounts and would offer up to day rate x365 as they treat IT contractors differently.

**kingcook** · 26 March 2012, 13:09

Originally posted by redgiant View Post

Interesting that Halifax have told you that they need 2 yrs of accounts. I spoke to a Halifax mortgage advisor in Feb at my local branch in central London and he said that all they needed was 1 yr of accounts and would offer up to day rate x365 as they treat IT contractors differently.

I saw your post in another thread (i think it was you?). I did mention to the adviser about what you said. She still wasn't interested. "That's not our policy..." blah blah blah.

**redgiant** · 26 March 2012, 13:16

Originally posted by kingcook View Post

I saw your post in another thread (i think it was you?). I did mention to the adviser about what you said. She still wasn't interested. "That's not our policy..." blah blah blah.

Yes, twas me. He gave me his business card to pass on (seemed keen to get more business) so I'll PM you his details this evening if that helps.

**kingcook** · 26 March 2012, 13:20

Originally posted by redgiant View Post

Yes, twas me. He gave me his business card to pass on (seemed keen to get more business) so I'll PM you his details this evening if that helps.

Yes, please do. Cheers.

Halifax Mortgages