Free mortgage advice?

[GordonHunterSuperContract]

Hi Gordon thanks for the note. £295 I could stomach but nearly £1000 just seems too much, why is there such a huge difference in cost if the mortgage is the same?

I've now sorted it with a guy who understood my way of working and for no fee, he said the lender pays him. All he asked is that I pass on his company details if I am happy.

He is planning my application now and has spoken to the estate agent for me, so far so good and at no cost to me!

It's purely up to the mortgage broker and business model what they charge. There's no real extra service apart from reviewing life insurance, financial protection, etc. Review sites like Trustpilot & Feefo are always a good way to get an idea of client experiences. We did a YouTube video on how contractor mortgage brokers make money but I don't think I'm allowed to post links here.

[Hobosapien]

Bottom line is: Don't have debt. Pay off what little you have and quickly.

Alternatively, use debt such as a mortgage while it is historically cheap and make sure you are able to comfortably afford it if interest rates return to normal. Then pay it off early before it gets relatively expensive, as contracting income allows, without needing to break into higher rate tax bands.

Even the wealthy use cheap debt to assist cash flow, so smart contractors should do the same.

[Carm F]

UPDATE -

Everything now sorted, with no broker fee!

The valuation of the property was completed yesterday and I have just heard from my broker that the mortgage has been agreed, I should have my formal mortgage offer within the next 3 days.

If I am allowed I will happily share their details here (not sure if it breaches anything?)

Didnt pay any fees to the broker and have an appointment next week to review my current life insurance. The deal is better than what Santander had previously agreed for me aswell.

Chuffed is an understatement.

I must say a thank you to both Martin and Gordon also for their messages.

[Mordac]

What is this mortgage thing you are all talking off? I thought this was only something perm workers had?

Mortgages are for people who don't live in caravans...

HTH

[FIERCE TANK BATTLE]

Grats on sorting it out.

I use a mortgage broker that works for an estate agent. He is a top bloke and doesn't charge fees. Has no issue with me applying as a contractor, knows what documents to ask for and what he needs.

I compared the mortgage offer he put together with if I had gone direct to the lender and it was identical, so not being ripped off.

Don't see the point in paying.