mortgage, straight to bank or recommend me an advisor

[vardas]

Thanks Emma. Yeah i think your right.

[Emma Power Mortgages]

hi.

first time mortgage, have seen that Halifax and clysedale do contractors mortgage.
question is do I just ring them up and apply direct
or do you recommend an contract mortgage advisor, if so which one and fee costs?

thanks

Best advice I can give is to do your research compare costs and find someone you trust to look at your mortgage. I have, in the past, come across a number of clients who attempt the application themselves and come unstuck because the person on the phone doesn't really understand how contractors work. The case usually fits the lenders criteria but they just cant get the right person on the phone and are unable to find out what they need to supply. The odd few do get lucky and manage to get it through.

Be aware mistakes at this stage can cause problems with a secondary application. Lenders share information and application details any incorrect information can highlight on their additional checks.

Its always worth speaking with a good advisor, just because one lender doesn't accept you it doesn't mean that all lenders wont. You will get the best rate and lender based on your circumstances - this will inevitably save you money in the long run

[dx4100]

Freelancer Financials charged me £599 for a remortagage.

You have to fill out a pretty hefty questionnaire and provide them all your contracts. They got back to me within a few hours with offers and then it was just a case of doing the valuation and legal. We got free legal and valuation.

We complete this week

[vardas]

And now i feel bad. Just seen the 599 at the bottom of there website, need my eyes testing lol

Does anyone have any other recommendations or im going to give them a bell in morn.

Thanks

[vardas]

Thanks

Ill give them call tomorrow. Nervous times.

[PerfectStorm]

I'd have to check back on fees. Can't remember if it was around the 4-500 mark. I asked about the difference fees make to a product and they sent me the full breakdown of with fees and without (different rates) so it was very clear what the best option and with fees were a much better option for the one I got.

I believe running your own, independent comparison will yield a different result

[northernladuk]

I'd have to check back on fees. Can't remember if it was around the 4-500 mark. I asked about the difference fees make to a product and they sent me the full breakdown of with fees and without (different rates) so it was very clear what the best option and with fees were a much better option for the one I got.

[PerfectStorm]

mortgage, straight to bank or recommend me an advisor

Bank direct rates and broker rates with their fees even out over the course of a year, so go with whichever route you prefer.

Bank = slightly higher %, no broker fee, bank fee
Broker = lower %, has their own fee plus the bank's fee, might be more straightforward from a contractor point of view but then the market leaders (Halifax and Nationwide) talk our language anyway

Halifax are doing £2k cashback within 30 days now, which basically means everyone's sending their clients there.

[vardas]

thanks, can I ask what fee FF charged? I cant see on their site.

thanks

[northernladuk]

You could try the Halifax. I've got mine through them with a great rate. Find out what rate you can get and then try and contractor specialist. I've used Freelancer Financials for 3 mortgages now. Normally I'd say go through them but if you think you can go direct have a sniff. Like I say just make sure you can get as good a rate as them though.

[davetza]

I'm busy remortgaging at the moment and both companies I have been in direct contact with (Co-Op and Leek) and have had no issues with working though my own limited company. They just needed to know my income (salary and dividend) for the last 2 years and they use this to figure out if you can "afford" the mortgage. I am not sure if this is a general trend for mortgage companies to be more contractor friendly or if I have just been lucky.

[vardas]

hi.

first time mortgage, have seen that Halifax and clysedale do contractors mortgage.
question is do I just ring them up and apply direct
or do you recommend an contract mortgage advisor, if so which one and fee costs?

thanks