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Typically Halifax wouldn't want to see any gaps of longer than circa 6 weeks between contracts in the last 12 months. However, Halifax are quite hit and miss, dependent upon the Underwriter who deals with the application. I have seen applications go through with gaps of more than 6 weeks in the last...
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You shouldn't need to enter the SATR figure in at all. Just key yourself as employed and 'fixed/short term contract' then enter your annualised day rate based upon day rate x 5 days a week x 46 weeks a year in the employed earnings box. Surprised Halifax say you need an appointment with a specialist...
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You key yourself Employed > fixed/short term contract then when it asks for your income, you key it as day rate x 5 days a week x 46 weeks a year, e.g. £500 a day equates to £115,000 per annum.
With a 60% loan to value (or below) you get the best rates from lenders. Borrowing amount...Last edited by TheMortgageSquad; 21 April 2024, 19:51.
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Yes, that's correct. It is very black and white with HMRC but less so with some mortgage lenders.
I do agree that there are certain situations where it seems a little unfair for stamp duty to be charged, inheritance of properties being one of them....
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This is correct. What muddies the water is that some lenders define a client as a first time buyer if they have not owned a property in the last 2 years for mortgage purposes but this is not the view shared by HMRC as far as stamp duty purposes go, as if you have ever owned a property before, anywhere...
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As long as I have been on this forum, under my current username and my old username when I was at the previous firm I worked at, I've always posted in this section of the forum. I appreciate it is Accounting/Legal and not specifically mortgages but from what I can see, mortgages tend to fall into this...
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I'd be keen to understand why you feel it is as close as it comes? I'm sharing news which as some kind posters above have alluded to, was not common knowledge. As I have previously said, regardless of whether this mortgage directly interests you or not, the fact this product exists will likely have...
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Whilst I appreciate being a contractor isn't geographically restricted to a set area, a large number of contractors I have dealt with in my years have been based in and around London. Perhaps that has changed a little more since Covid days and working from home being a lot more popular nowadays....
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This isn't a sales pitch, I'm sharing industry news which I thought would be of interest to some people and spark discussion. Even if the mortgage itself is not of interest to anyone on here, it is very likely that this mortgage will help a few people who otherwise may have been struggling to sell their...
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The best rates on the market for a 5 year fixed rate with a 40% (!!) deposit are around 4.15% at the moment, so yes, this rate is a fair bit higher but on a £500,000 property, the deposit requirement to get those kind of rates are £200,000, the £5,000 requirement for this new mortgage is obviously...
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I was just sharing industry news, I'm not sure why you have taken offence to me specifically?!
This is not something which is specific to The Mortgage Squad, it is a mortgage product offered by a mortgage lender and 'news' which I thought was worth sharing.
Whether it is a...
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First Time Buyer Mortgages with a £5,000 deposit
Accord Mortgages launch a new residential mortgage where you only need a £5,000 deposit.
The mortgage applies to residential new first time buyer purchases only (not for those who have previously purchased, not for buy to let properties and not for remortgages).
Who's it f...
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Herein lies the problem with going direct to lenders sometimes. Unfortunately its a flip of the coin as to what Advisor you speak to. Because the vast majority of clients most Advisors speak to on a daily basis fit into the neat full time permy employed, self employed sole trader or Limited Company...
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12 April 2024
- 10:36 - ladymuck clicked Thanks for this node: First Time Buyer Mortgages with a £5,000 deposit by TheMortgageSquad
8 February 2023
- 17:15 - Snooky clicked Likes for this node: What would you do with ones years income? by TheMortgageSquad
31 January 2023
- 11:19 - jamesbrown clicked Likes for this node: Mortgage brokers & is now a good time? by TheMortgageSquad
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