Best mortgage for contractors?

[Francko]

Oneaccount? Is this the type of mortgage that suits contractors more? Any other good alternative to traditional mortgages?

[Back In Business]

I think any mortgage where you can make over-payments when times are good and underpayments when you're on the bench is ideal. Most of the big companies have some sort of "flex" offering these days.

[wendigo100]

Oneaccount? Is this the type of mortgage that suits contractors more? Any other good alternative to traditional mortgages?

I use OneAccount.

It's a massive overdraft, rather than a mortgage, but at mortgage rates of interest. They give you an overdraft limit, but from there on you can reduce it how you like. It's like being treated as an adult. That's great for contractors.

I think it's better than most flexes because you don't have to do anything, just pay what you earn into the account and spend what you need to.

[theemeestroo]

I was looking at the one account.
Obviously there is no way to offset company balance against it (unfortunately) but I was wondering what the implications of taking say 15K out on my company anniversary for my Corp Tax bill and then sticking it in the one account for 6 months. Then pay the Corp Taax bill before the 9 month deadline but saved 15K of interest for 6 months?

Or could you theoretically take money out each week for Corp Tax and VAT and plonk it in your one account.

As I am typing this I am thinking more not as it is not my money, it is the companies money. Although it is actually just a bill. Nothing to stop it taking a while due to postage delays!!

[AtW]

I bought my local bank to ensure I get the best deal on my morgage.

HTH

threaded.

[threaded]

AtW: nearly correct, I set up my own Mortgage company, and lent myself the money. You might not get MIRAS, but I do...

[Lucifer Box]

Oneaccount? Is this the type of mortgage that suits contractors more? Any other good alternative to traditional mortgages?

Franco, you're not still after one of those Merton Abbey Mills flats down by the Wandle are you? You know the ones, with easy access to the on-site KFC?