Contracting and mortgage repayments - low salary, high dividends? Other options?

[Boris4PM]

This may appear as a stupid question. My personal circumstances have changed and I am now facing a big hike in mortgage repayments (I'm looking to pay my former partner out of her share of our flat) so will be facing monthly payments of probably £2500/month.

I am in early discussions with...

[Sunshine2021]

I need some advice. I received and accepted an offer on my property which I've had for 9 years last Friday. Found the perfect property to buy last Wednesday and put an offer on it. Called Nationwide to discuss porting my existing mortgage and went through the DIP process. I was granted a DIP for £400k,...

[superdeano]

I'm trying to get a joint mortgage with my partner at the moment for our first home.

Been contracting for years and can evidence income/accounts/history/current contract/rate etc. - all good.

My partner was at home not earning when our kids were young up until about 18...

[CalamityJane]

Haven't posted in a LONG time. Yes, I've spared you.

But I'm now in a really good and bad position for getting a mortgage and I wanted to get the lay of the land from you guys.

Please tell me your personal experience of trying to get a mortgage as a contractor. I want to be...

[SimonMac]

Completed (finally) on our house purchase on Friday, went to my bank (who I have personal and business accounts with) and they looked at me as if I have three heads, went to CMME and they were amazing from start to finish, would recommend to anyone looking for a contractor mortgage.

[benjimarshall]

Hi,

Let me start by saying I hope i'm posting in the correct section of the forum! I'm looking to get a mortgage in the next 6 months and I am wondering how to maximise my chances of being accepted for a mortgage as a contractor. The main thing i've been trying to do is build my credit...

[mac86]

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...

[Christoph]

After a bit of advice, I have been contracting now for just over a year and I am looking to move house. My partner is a permie with a substantial income, however not enough to go it alone on the mortgage. We currently have a staff mortgage through the halifax. I am wondering what the best options are...

[balowen]

Has anyone ever been offered an open ended contract?
i.e. no specified duration, it just continues until terminated (4 weeks notice either side). The project has potential to last 18-24 months.

Pros:
1. potential to last a long time
2. no need for renewals
...

[Sheens83]

Hi all, I took some time off for 5 months to study for some qualifications after which I went into a contract (which I've been on for nearly 6 months now).

I am trying to get a First Time Buyer mortgage but it's proving a little difficult. The current broker I am using is from the estate...

[tractor123]

I've been lurking around for over a year, decided to create an account now that I have a question.

I have applied for a mortgage via broker with less than 12 months contracting history, and she seems to only have access to one mortgage product with pretty high rate.

Is...

[marius123]

Was hoping I could get a bit of advice from anyone who's gotten a mortgage based on their day rate in the past...

I am using one of the contractor specific brokers (don't feel like naming which one quite yet as I'm quite angry with them) and they did the usual of giving me rough borrowing...

[Unix]

Looking to remortgage based on my own contractor income, went to current one (Barclays) who only looked at my self assessment income which was low last year as I retain profits for warchest and split divvies. So they couldn't loan me what I need.

Is there a bank/company that will lend...

[D15]

I am a IT contractor going via an umbrella company.

No big breaks in between contracts for last 2 years
Over 3 months remaining on contract
Have current and previous contracts for up to last 2 years

I have a mortgage in I principle based on my contract rate...

[pjclarke]

There are brokers who specialise in mortgages for contractors. There are brokers who specialise in BTL mortgages.

But are there any who do both? BTL specialists who are simpatico to the contractor situation? If not can anyone recommend a generalist? Who do our property magnates recommend?...

[BrilloPad]

Has anyone had a contractor mortgage over the last year NOT through HBOS?

[Aden]

Hi,

Having read the websites of the following companies, I am still not sure which one I should go for it. How do you choose a right one? any tips.

Freelancer Financials, ContractorMortgagesUk or Countrywide.co.uk

It is interesting to find that their fees...

[Prinsa]

I have been contracting for 9 months and finding it difficult to find a mortgage. Can anyone suggest a solution? I

[Ristic]

Used these guys a couple of years ago and overall pretty pleased with them.
I have recently enquired re a mortgage for a potential move and they have informed me they now charge a £900 fee! Quite the increase from the fee free last time.

I am currently in talks with Freelancer...

[Nitro]

Hey everyone

Hoping to get some advice.

I've been contracting since September 2014, and finally ditched my umbrella and went Ltd in May 2015. I've been in the same contract ever since.

I've decided I want to get a mortgage. It's for a house in the £120k...

[Smokebill]

Hi,

I will be starting a contract in London and I live too far away to commute on a daily basis. I am considering buying a flat. This would not be my main residence or where the business is registered. Would I be able to rent the flat to my limited company as it will be used as business...

[Keyser Soze]

Evening All,

We are in the position of trying to help my sister in law get a property for her and her 2 young girls after their father decided to sell the house that they lived in despite their mum being willing to take on the negative equity. Not a great situation. They were due to move...

[Ender]

Two weeks ago I browsed the forums here and found that the only contractor friendly high street bank is Halifax. I used their online tool and got an agreement in principle for a mortgage with a 10% deposit. I then scheduled an appointment with a credit consultant in one of their branches. The branch...

[clearbrian]

Hi
I'm looking to get a mortgage.
I was wondering what size mortgage contractors are getting at the moment.

My day rate is 375/day.
gross salary is 10037.18
annual dividends 28,645.04

There's 22500 in my company which my accountant I can take...

[Indigo IT]

Morning all,

Are there any brokers that can advise on overseas mortgages for UK Contractors? Or does anyone have experience of overseas purchases and other options for financing I should consider i.e. using an Italian bank etc.?

Cheers,
Indigo

[tanzy_m]

Hi,

I was wondering if anybody has any experience / recommendations on getting a mortgage for a foreign property?

All the various contractor mortgage companies point me to Conti Financial
(http://www.mortgagesoverseas.com/). Conti Financial has been talking, but...