This will come as good news for contractors applying for Tracker Mortgages but bad news for contractors who have savings – the expectation is that we will be hearing much the same in the coming months and, if Ernst &Young is to be believed, potentially years.
Ernst & Young recently made a bold prediction that the Bank of England base rate will remain at 0.5% until the end of 2013.
There are a number of big name high street lenders that are contractor friendly offering competitive tracker rate contractor mortgages. At Freelancer Financials we are very experienced in dealing with Contractors and understanding the different ways in which contractors work (limited company, umbrella, EBT etc) and ensure we can secure the mortgage using contract based underwriting that we’ve agreed with a number of high street lenders.
This enables us to arrange competitive tracker rate mortgages that are based simply on a multiple of your annualised contract income. We make use of our special relationship with senior underwriters to directly package your mortgage application so that it is dealt with swiftly without delays.
We are also pleased to provide what is referred to as a ‘whole of market’ service, which means we can advise and arrange a suitable mortgage from all the lenders and from their complete range of mortgage products.
Irrespective of whether you have your own limited company or work through a payroll umbrella company, we can secure mortgages based simply on a multiple of your annualised contract income.
The mortgage loan can be as much as 4-5 times annualised contract rate.
Click Here to find out how much you can borrow based on your contract rate.
If you are interested in finding out more about the mortgage options available to you, simply fill in our enquiry form, and we will get back to you shortly.
Also, read our articles on mortgages for contractors made easy in the post-crunch world.
Freelancer Financials are the preferred choice for thousands of contractors in the UK. Our mortgage specialists are more than happy to help in any way they can, so please do contact us on 020 8421 7999 or email us at [email protected]
