Contractor Mortgage Advice Contractor mortgage advice for UK contractors and freelancers
Competitive mortgage rates given to UK contractors without accounts or tax returns

PROVIDING MORTGAGE ADVICE TO UK CONTRACTORS

In the old days, your bank manager would have known you personally. He or she would have shopped in the same high street, eaten in the same restaurants and had a drink in the same pub on the way home. If you were a first time buyer, the likelihood is that your bank manager would have known your parents and told them to tell you to come and have a chat. If you were moving up in the world, he would have been discussing your plans and business aspirations for months. If you were paying rent, he would have been encouraging you to stop funding your landlord’s mortgage and get on the property ladder yourself and he would have understood how UK contractors operate. In other words, he knew you personally and could advise you accordingly and grant you a mortgage.

Sadly, those days have long gone. Most contractors will now bank online and talk to someone in a call centre in a far off land who has no idea what your town even looks like, let alone what you do and how important any decision he or she makes could affect your life. That is why our team at Freelancer Financials like to get to know our clients personally so that we can provide the best mortgage advice to suit your personal circumstances.

Mortgages tailored for you

We offer contractor mortgage advice specifically tailored to the unique needs of freelance contractors. Our Mortgage Advisers are experienced mortgage consultants who specialise in particular types of mortgages for Contractors. They will find out all they need to know about you, how you are paid as a contractor, and your specific requirements before choosing a tailored mortgage for you.

You will have one Contractor Specialist Mortgage Adviser dedicated to you throughout the whole mortgage process. Our Contractor mortgage consultants have access to the whole of market, which means we can source the best contractor mortgage from all the available lenders.

Our experience in this industry and the fact that many of our clients are contractors means that we have many contacts amongst the providers and we know the ones who are contractor friendly and where you will be successful in your mortgage application.

How Much Can you borrow as a contractor?

Freelancer Financials have agreements in place with high street banks that will use their standard “earnings multiple” on your current annualised contract rate to calculate a maximum loan amount. We are able to secure a mortgage loan of up to 4.5 times your annualised contract rate. This means that a contractor on a daily rate of £350, can potentially borrow (£350/day x 5 days x 48 weeks x 4.5) £378,000. Enter your details into our contractor mortgage calculator to find out how much you can borrow. Basically, the success of your mortgage depends on how well your application is presented to key decision makers. We ensure that your application is correctly packaged and directed to senior underwriters who have an understanding of your contractor status and earning potential.