Reply to: Contractor Mortgage

[GhostofTarbera]

Contractor Mortgage

Halifax love a contractor.

Borrowed 4.5x contractor income (assumed 48 weeks) 2 months after going contracting. All they needed was evidence of at least a month left to run when the offer was made and convincing that I had prior experience in the same line of work.

Mortgaged to the hilt with eye-watering payments - pre-credit crunch careless lending is back!

Nice one


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[fiisch]

Halifax love a contractor.

Borrowed 4.5x contractor income (assumed 48 weeks) 2 months after going contracting. All they needed was evidence of at least a month left to run when the offer was made and convincing that I had prior experience in the same line of work.

Mortgaged to the hilt with eye-watering payments - pre-credit crunch careless lending is back!

[fool]

You don't need a banking relationship with them at all. Just proof of contract with at least 2 months to run I think it is. You don't even need to provide previous years accounts.

Pretty much this, just show them the contract and you should be good.

[kaiser78]

I've heard in various places that Halifax are really quite contractor friendly. I guess it helps to have a banking relationship with them but it's not entirely necessary.

You don't need a banking relationship with them at all. Just proof of contract with at least 2 months to run I think it is. You don't even need to provide previous years accounts.

[ladymuck]

I've heard in various places that Halifax are really quite contractor friendly. I guess it helps to have a banking relationship with them but it's not entirely necessary.

[kaiser78]

Last year when I wanted to raise some funds for building work ( I had no mortgage at the time) I went direct to my personal bank, Halifax. Easy and understanding of a contractor and offered far more than I wanted to borrow at a good rate too.

That's what I did too earlier this year. Halifax base lending on turnover and not sal/divs only.
Don't use L&C as they were cr*p.

[Yorkie62]

Last year when I wanted to raise some funds for building work ( I had no mortgage at the time) I went direct to my personal bank, Halifax. Easy and understanding of a contractor and offered far more than I wanted to borrow at a good rate too.

[ladymuck]

I used them this year, not sure if I am classed as a friend

Would recommend

Two friends have used them recently!

[SimonMac]

That's who I was trying to remember earlier. Friend of mine used them recently. Good support and got a good deal.

I used them this year, not sure if I am classed as a friend

Would recommend

[ladymuck]

Hi

I can recommend CMME for as a contractor mortgage broker

Contractor Mortgages Information and Quotation

That's who I was trying to remember earlier. Friend of mine used them recently. Good support and got a good deal.

[saptastic]

To my fellow contracting brethren, I'm looking for recommendations and suggestions for a mortgage broker or provider who could help with a new contractor. Only only one month in. Lots of previous history in IT contracting niche as a permie. First time buyer...Only need to borrow 100k.

Am I doomed to spoon feed my LL gravy forever or is there hope.

Hi

I can recommend CMME for as a contractor mortgage broker

Contractor Mortgages Information and Quotation

[ApeShape]

Speak to Freelancer Financials - they've sorted me out in the past. You have to demonstrate that you've not been been out contract for more than 3 of the past 12 months to get access to the best deals, which you clearly can't at the moment. Length of time contracting is also a factor too. Given your history and requirements, I wouldn't mind betting they'd be able to sort something for you albeit at a higher interest rate...

[Big Blue Plymouth]

To my fellow contracting brethren, I'm looking for recommendations and suggestions for a mortgage broker or provider who could help with a new contractor. Only only one month in. Lots of previous history in IT contracting niche as a permie. First time buyer...Only need to borrow 100k.

Am I doomed to spoon feed my LL gravy forever or is there hope.

Speak to Freelancer Financials - they've sorted me out in the past. You have to demonstrate that you've not been been out contract for more than 3 of the past 12 months to get access to the best deals, which you clearly can't at the moment. Length of time contracting is also a factor too. Given your history and requirements, I wouldn't mind betting they'd be able to sort something for you albeit at a higher interest rate...

[PhiltheGreek]

Am I doomed to spoon feed my LL gravy forever or is there hope.

Best shot - you're AndyW's mum's lodger and the long weekend has broken you?

[Old Greg]

To my fellow contracting brethren, I'm looking for recommendations and suggestions for a mortgage broker or provider who could help with a new contractor. Only only one month in. Lots of previous history in IT contracting niche as a permie. First time buyer...Only need to borrow 100k.

Am I doomed to spoon feed my LL gravy forever or is there hope.

Do you have a chutney spoon?