please recommend where to get contractor mortgage

[rd409]

Just looked at here terms and looks like they will charge £695 for processing a mortgage ....

I cant remember making a payment to contractorFinancials 6yrs ago when they arranged a mortgage for me

css_jay99

It depends, I got quote from both. CF gave me best product from Halifax with product fee of £999 and £0 processing fees for themselves. CMME gave me the same product with £250 product fee with £450 processing fee. So they were a better choice for me

[Gibbon]

Yorkshire Building Society were good for me. Ready set up to take dividends etc and turn them into a projected gross. Just needed a letter from a chartered accountant and a few bank statements.

[css_jay99]

cheers guys, i best make this a priority

[css_jay99]

It depends, I got quote from both. CF gave me best product from Halifax with product fee of £999 and £0 processing fees for themselves. CMME gave me the same product with £250 product fee with £450 processing fee. So they were a better choice for me

how come £450? did you re-negotiate?.

Their terms states

The £695 fee payable on application is non-refundable should you choose not to proceed following the successful production of a suitable mortgage offer.

css_jay99

[rd409]

how come £450? did you re-negotiate?.

Their terms states





css_jay99

Nope, I think they recently hiked their prices. I strongly advise to get the quotation for the best mortgage products from each broker and then compare the complete package, and not just the brokerage.

[css_jay99]

Barclays & Virgin offering Low rates on 2 year fixed deals

Barclays offering 2.39% on 2yr tracker while Virgin is 2.55% on 2yr fixed/tracker

I was wondering if these two are contractor friendly and if they take direct applications as well ?

css_jay99

[psychocandy]

Uk tax laws are such a bummer.....

Just take all the money out of company account, pay off mortgage, throw VAT and CT demands in bin. Put head under quilt and hide. Simples....

[Moscow Mule]

I'm sure PUMA (of accounting/legal forum fame) had a method for offsetting your company reserves against a mortgage (with an offset product).

I don't know if he's still around for a PM, but might be worth a searcharoonie.

[kobie]

Hi
I think that you can
1. Borrow cash from ltd co
2. Pay into offset mortgage
3. Pay ltdco interest on monies borrowed - but it's back to you anyway.

Risk is that if you need the money back then the mortgage company will re-asses your ability to pay so might not agree to you recovering all of the offset !!!

Cheers
Kobie

[northernladuk]

I'm sure PUMA (of accounting/legal forum fame) had a method for offsetting your company reserves against a mortgage (with an offset product).

I don't know if he's still around for a PM, but might be worth a searcharoonie.

It was through trusts but has never been tested but there was a case recently of a guy trusting his money out wish went badly for him. To be fair he was doing everything under the sun to look and act dodgy and they were not done properly but even so, on that basis I am off that idea.