Hi fellow contractors! New here and been reading quite a few posts over the last couple of days related to mortgage...seems like a great community with lots of good advice on offer.
Now to my predicament...
I have been in work for 1 full year and have a contract until end of the this year (prior to I had a break of around 9 months but before that been in contract for over 3 years no break). Spoke to a broker and he is confident that he can get me a mortgage with Halifax but I have been on their website and it says something about being in contract for 2 years continuous...but then on these boards I have read you are okay just as long as you have 6 months on current contract (which I have).
Another thing is that need to exchange and complete by the end of the month. In your experience, how long does it take from application to mortgage offer. Broker is confident he can get it done but I am not sure he is just saying this to get my business?
He did mention that only thing he can't control is the valuation as sometimes it takes the bank a week to get someone over to property but he said that since the mortgage is already underwritten that once the valuation comes back in that I should have mortgage offer within a few days.
Thanks in advance for replies!!!
Now to my predicament...
I have been in work for 1 full year and have a contract until end of the this year (prior to I had a break of around 9 months but before that been in contract for over 3 years no break). Spoke to a broker and he is confident that he can get me a mortgage with Halifax but I have been on their website and it says something about being in contract for 2 years continuous...but then on these boards I have read you are okay just as long as you have 6 months on current contract (which I have).
Another thing is that need to exchange and complete by the end of the month. In your experience, how long does it take from application to mortgage offer. Broker is confident he can get it done but I am not sure he is just saying this to get my business?
He did mention that only thing he can't control is the valuation as sometimes it takes the bank a week to get someone over to property but he said that since the mortgage is already underwritten that once the valuation comes back in that I should have mortgage offer within a few days.
Thanks in advance for replies!!!
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