The same best buy mortgage deals are available to salaried employees are also available to IT Contractors. All Freelancers working in the UK, including those who have recently started contracting, can get the same best buy mortgages as employees.
Contractor Mortgages are available to all contractors who work on a contract rate and can confirm their income using a contract. The key is choosing a specialist mortgage adviser to avoid the difficulty of dealing directly with high street lenders who are not familiar with the contracting environment. A competent mortgage adviser can arrange a competitive mortgage, easily and quickly, with no fuss at all.
A Contractor Mortgage specialist can arrange mortgages for IT contractors operating through different trading structures and payment mechanisms, including Limited company, Umbrella pay roll and EBT schemes.
There are currently very few mortgage specialists that cater specificall y to IT Contractors in the UK. A contractor Mortgage Specialist can present your mortgage application directly to underwriters to be assessed on your total contract earnings. They have relationships with "High Street" banks that provide excellent mortgage rates that are simply based on a multiple of your annualised contract earnings (as much as 5 times your annualised contract income). E.g. If you're on a daily rate of say ?500, you can potentially borrow as much as ?540,000.
For further reading on "contractor mortgages", Please Google contractor mortgage specialist on Google and a number of specialist can be found.
The following documentation is required when submitting to senior underwriters:
• A copy of your latest CV • A copy of your current contract confirming your contract rate • Proof of ID and address
Contractor Mortgages [http://www.freelancerfinancials.uk.com]
No comments:
Post a Comment