Reply to: Halifax Mortgages

[Martin@AS Financial]

Halifax (direct) offered me 5.99% at approx. 85% LTV.

YMMV.

Hi All.

I am an Independent Mortgage Adviser and specialise in helping my IT Contractor clients secure mortgage finance for residential and investment purposes. ...

All the best

Mod Note: Hi Martin,
Please read the T&C's and ask Admin to rename your login myname@myco, then you can promote your company by helping posters, as the other specialists do.

Thanks.

[kingcook]

It's not great - but HSBC haven't got a clue about contractors. Call centre bod, salary OR 3 yrs accounts.

If you can get more than 10% the Halifax rates drop to 3.5%ish

Halifax (direct) offered me 5.99% at approx. 85% LTV.

YMMV.

[oversteer]

5.99% was the issue surely? I just fed your details into HSBC (the first link on google) and got a 2 year fix 90% first time buyer at 4.59%.

It's not great - but HSBC haven't got a clue about contractors. Call centre bod, salary OR 3 yrs accounts.

If you can get more than 10% the Halifax rates drop to 3.5%ish

[Scrag Meister]

It seems I was lucky... My independant FA just took a copy of my contract, took the day rate and was able to secure a good rate of mortgage (over 88% of the value) in about 3 minutes.

I had about 4 months to run on the contract, but did not need to provide a CV, bank statements, 2 years accounts etc...

Must depend of your Financial Advisor / Broker...

What rate did you get?

I got both mine going direct, Main one at 0.49% above base. and the other at 3.49% above base, reducing to 2% above base at the end of this year.

I had to wait for 7 months til my 2 years of accounts were available after the first enquiry to get the mortgage.

I would be tempted to wait until your 2 years accounts are ready if it's not that far off. Save in the long run and lets face it, in most cases a mortgage is a marathon not a sprint.

I don't see you missing out in the short/medium term due to a sudden increase in house prices.

Patience is a virtue.

[scooby]

5.99% was the issue surely? I just fed your details into HSBC (the first link on google) and got a 2 year fix 90% first time buyer at 4.59%.

And what HSBC require for that? 2yrs accounts? More or the same as Halifax which was little?

[escapeUK]

WHS 90% mortgage, 5.99% fixed 2yr. No issues and less than 2 weeks for the offer from Halifax.

5.99% was the issue surely? I just fed your details into HSBC (the first link on google) and got a 2 year fix 90% first time buyer at 4.59%.

[PMMan]

Contract only

It seems I was lucky... My independant FA just took a copy of my contract, took the day rate and was able to secure a good rate of mortgage (over 88% of the value) in about 3 minutes.

I had about 4 months to run on the contract, but did not need to provide a CV, bank statements, 2 years accounts etc...

Must depend of your Financial Advisor / Broker...

[kingcook]

I was in a similar boat - new mortage no probs but getting the 'consent to let' for the existing mortgage is a real grey area with the halifax and without that you dont get the new mortgage. I do know that you have to have a certain amount of equity and a good reason for getting CTL and the rate isnt the greatest and nor is the large arrangement fee.

Arrangement fee?

[NonnyMouse]

I was in a similar boat - new mortage no probs but getting the 'consent to let' for the existing mortgage is a real grey area with the halifax and without that you dont get the new mortgage. I do know that you have to have a certain amount of equity and a good reason for getting CTL and the rate isnt the greatest and nor is the large arrangement fee.

[scooby]

contractormoney have sorted me out with a mortgage. no accounts needed, basically just contract and cv.




also it's with the Halifax

WHS 90% mortgage, 5.99% fixed 2yr. No issues and less than 2 weeks for the offer from Halifax.

[kingcook]

contractormoney have sorted me out with a mortgage. no accounts needed, basically just contract and cv.

also it's with the Halifax

What a bizarre world we live in

[oversteer]

contractormoney have sorted me out with a mortgage. no accounts needed, basically just contract and cv.




also it's with the Halifax

[kingcook]

Yes, twas me. He gave me his business card to pass on (seemed keen to get more business) so I'll PM you his details this evening if that helps.

Yes, please do. Cheers.

[redgiant]

I saw your post in another thread (i think it was you?). I did mention to the adviser about what you said. She still wasn't interested. "That's not our policy..." blah blah blah.

Yes, twas me. He gave me his business card to pass on (seemed keen to get more business) so I'll PM you his details this evening if that helps.

[kingcook]

Interesting that Halifax have told you that they need 2 yrs of accounts. I spoke to a Halifax mortgage advisor in Feb at my local branch in central London and he said that all they needed was 1 yr of accounts and would offer up to day rate x365 as they treat IT contractors differently.

I saw your post in another thread (i think it was you?). I did mention to the adviser about what you said. She still wasn't interested. "That's not our policy..." blah blah blah.