Mortgages in this crunchy environment

[Bear]

COB? yeah just checked now, they're all 0.6X% above BoE. Terrible.

Close of Business

The rates on the site aren't necessarily the rates they offer to contractors

Speak to Contractor Money - they can secure some good rates

[Peter Loew]

I've got my FA looking at mortgages for me at the moment, so the thread is of interest. What sort of "deal" re. salary/dividends and the general contractor gig did they give?

I'm pretty new to the contract game and the missus is nagging - er suggesting - that we should spend on a bigger pad, wouldn't ya know!

Cheers

A quick illustration would be that they ask for your day rate, and then work out the average salary it equates to, then do the multiples (x4) to get the approx amount you can borrow. They don't care about how you pay yourself (e.g. divs / salary etc.) they care about what goes into your business bank account and your personal bank account.

[Peter Loew]

Close of Business

The rates on the site aren't necessarily the rates they offer to contractors

Speak to Contractor Money - they can secure some good rates

Just did. They're going to send me some info. Cheers.