First Time Contractor Mortgage

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Mark McBurney@CMME replied

2 June 2015, 08:19
Originally posted by gemz1989 View Post

Hi all,

Wonder if you can give me some advice. Im looking for a 95% mortgage. I am currently in a contract until 20th December and I have been trading as a limited company since Feb 2014. I have been contracting since Aug 2013 but was under an umbrella company at first.

Is there a good mortgage advisor anyone can recommend? I realise its pretty hard to get a 95% mortgage being a contractor so if anyone can offer any advice it would be a great help

You should have plenty of options but have a chat with a broker as there are many small things that aren't mentioned here that could trip you up. The devil is very much in the detail.

Good luck.
Leave a comment:
Freelancer Financials replied

1 June 2015, 20:31
Originally posted by gemz1989 View Post

Hi all,

Wonder if you can give me some advice. Im looking for a 95% mortgage. I am currently in a contract until 20th December and I have been trading as a limited company since Feb 2014. I have been contracting since Aug 2013 but was under an umbrella company at first.

Is there a good mortgage advisor anyone can recommend? I realise its pretty hard to get a 95% mortgage being a contractor so if anyone can offer any advice it would be a great help

If you're an IT contractor or earning over £312.50 per day you have plenty of options. Halifax being the obvious choice. But there are other contractor friendly lenders that may also consider you as you have been contracting continuously for over 12 months. It doesn't matter that you've changed trading structures from Umbrella to LTD. They're mainly concerned with your contracting history.

You should be fine as long as you appoint a contractor mortgage specialists.

Good luck, lets all know how you get on.
Leave a comment:
northernladuk replied

21 May 2015, 14:33
How is it we seem to get a raft of questions on broadly the same topic on certain days. It was notice periods a few days ago, mortgages today and others in the past. Regardless of why you'd think it would help the topic being current but it doesn't seem to. People ask anyway. I don't get it.

There are two posts almost right below this asking about mortgages in which a number of providers are recommended and there is a search function detailed in the link below which will allow you to research anyone that is suggested so you can make your own mind up. There are also a whole host of posts of people who have been through the process so you can read up on their experiences and find out what you might be up against.

http://forums.contractoruk.com/welco...uk-forums.html

Last edited by northernladuk; 21 May 2015, 14:53.
Leave a comment:
Ticktock replied

21 May 2015, 14:12
Originally posted by gemz1989 View Post

Hi all,

Wonder if you can give me some advice. Im looking for a 95% mortgage. I am currently in a contract until 20th December and I have been trading as a limited company since Feb 2014. I have been contracting since Aug 2013 but was under an umbrella company at first.

Is there a good mortgage advisor anyone can recommend? I realise its pretty hard to get a 95% mortgage being a contractor so if anyone can offer any advice it would be a great help

Before everyone jumps in to give Freelancer Financials more free press, I'll recommend Power Mortgages. They're sorting me out at the moment and have been very good.
You may still struggle due to lack of history in contracting, but the contract may be enough. They'll be able to advise.
Leave a comment:
gemz1989 started a topic First Time Contractor Mortgage

21 May 2015, 13:48
First Time Contractor Mortgage

Hi all,

Wonder if you can give me some advice. Im looking for a 95% mortgage. I am currently in a contract until 20th December and I have been trading as a limited company since Feb 2014. I have been contracting since Aug 2013 but was under an umbrella company at first.

Is there a good mortgage advisor anyone can recommend? I realise its pretty hard to get a 95% mortgage being a contractor so if anyone can offer any advice it would be a great help
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