mortgage, straight to bank or recommend me an advisor

[vardas]

hi.

first time mortgage, have seen that Halifax and clysedale do contractors mortgage.
question is do I just ring them up and apply direct
or do you recommend an contract mortgage advisor, if so which one and fee costs?

thanks

[davetza]

I'm busy remortgaging at the moment and both companies I have been in direct contact with (Co-Op and Leek) and have had no issues with working though my own limited company. They just needed to know my income (salary and dividend) for the last 2 years and they use this to figure out if you can "afford" the mortgage. I am not sure if this is a general trend for mortgage companies to be more contractor friendly or if I have just been lucky.

[northernladuk]

You could try the Halifax. I've got mine through them with a great rate. Find out what rate you can get and then try and contractor specialist. I've used Freelancer Financials for 3 mortgages now. Normally I'd say go through them but if you think you can go direct have a sniff. Like I say just make sure you can get as good a rate as them though.

[vardas]

thanks, can I ask what fee FF charged? I cant see on their site.

thanks

[PerfectStorm]

mortgage, straight to bank or recommend me an advisor

Bank direct rates and broker rates with their fees even out over the course of a year, so go with whichever route you prefer.

Bank = slightly higher %, no broker fee, bank fee
Broker = lower %, has their own fee plus the bank's fee, might be more straightforward from a contractor point of view but then the market leaders (Halifax and Nationwide) talk our language anyway

Halifax are doing £2k cashback within 30 days now, which basically means everyone's sending their clients there.

[northernladuk]

I'd have to check back on fees. Can't remember if it was around the 4-500 mark. I asked about the difference fees make to a product and they sent me the full breakdown of with fees and without (different rates) so it was very clear what the best option and with fees were a much better option for the one I got.

[PerfectStorm]

I'd have to check back on fees. Can't remember if it was around the 4-500 mark. I asked about the difference fees make to a product and they sent me the full breakdown of with fees and without (different rates) so it was very clear what the best option and with fees were a much better option for the one I got.

I believe running your own, independent comparison will yield a different result

[vardas]

Thanks

Ill give them call tomorrow. Nervous times.

[vardas]

And now i feel bad. Just seen the 599 at the bottom of there website, need my eyes testing lol

Does anyone have any other recommendations or im going to give them a bell in morn.

Thanks

[dx4100]

Freelancer Financials charged me £599 for a remortagage.

You have to fill out a pretty hefty questionnaire and provide them all your contracts. They got back to me within a few hours with offers and then it was just a case of doing the valuation and legal. We got free legal and valuation.

We complete this week