Are you on a HSMP or Tier 1 VISA and need to get a Mortgage?
Freelancer Financials are independent mortgage brokers specialising in finding mortgages for IT contractors on a HSMP or TIER 1 VISA. We have assisted many immigrants from different countries purchase a UK property. We have established relationships and contacts with high street lenders who provide mortgages for UK HSMP (Highly Skilled Migrant Programme) and TIER 1 workers with Visas.
HSMP and Tier 1 Contractor Mortgages
As a contractor on a HSMP or TIER 1 visa it can be difficult securing a mortgage because many of the banks and financial institutions don’t understand your unique working status. Sadly many contractors miss out on their dream home because mortgage lenders and financial institutions typically penalise contractors having less than 12 months remaining on their contracts.
At Freelancer Financials we totally understand the needs of HSMP and TIER 1 visa contractors operating through their own limited company. We have a proven track record in securing competitive mortgages for your needs. Our reputation and strong relationship with major UK financial institutions and lenders means that your mortgage is processed quickly and with the minimum of fuss.
Mortgages for HSMP/Tier 1 Contractors based on your contract rate alone
The majority of high street lenders that you apply to, will have an overly simplified understanding of what qualifies as relevant earnings for lending purposes. This has been worsened and exaggerated during the financial crisis and credit crunch. These lenders will typically demand a minimum of three years accounts.
In contrast, by making use of the relationships and contacts we have developed with lenders, we will find the best mortgage provider for you, one who will make you a mortgage offer based on a generous multiple of your daily or hourly contract rate. This enables you to borrow based on a multiple of your annualised contract income.
Calculate how much you can borrow based on your daily contract rate
Our contractor mortgage specialist have been able to secure special terms for HSMP contractors that gives you access to mortgages with little deposit and their bespoke lending criteria means that the whole process is much quicker with most mortgages agreed within days of your first contract.
We will only work with high street lenders who have proven by their results that they are dependable and trustworthy enough to make certain that your house purchase actually completes. There are a large number of mortgage lenders, apparently falling over themselves to lend you money. It is all too easy to go online or into a bank branch and secure an decision in principle but it is only when the application goes to the underwriter for approval that they will then back track, decide they are not comfortable with your HSMP or contractor status putting your house purchase in real jeopardy.
How much can I borrow?
If you want to calculate how much you can borrow based on your daily contract rate click here for a no-obligation quote or contact our mortgage advisors and one of the specialists will discuss your needs, on 0208 421 7998. You will then be emailed recommendations which can be discussed in more detail. You will be assigned a contact within the company to handle your case personally and ensure that your application runs smoothly.