Freelancer Financials are specialist in finding Mortgages for IT Contractors. Many IT Contractors have been promised the earth by a mortgage broker or bank only to be let down later.

When it comes to IT contractor mortgages, Freelancer Financials are the experts. At Freelancer Financials we are keen to demonstrate to IT Contractors that you can easily obtain the same 'prime rate' mortgages as a permie. The trouble with most “high street” lenders is that, they have a narrow view of what can be treated as allowable earnings for mortgage purposes. Most high street lenders will want to see three years of accounts for your business, to ensure that your revenue stream is regular and not erratic.

The other issue that you may face as an IT Contractor when applying for a mortgage is the tax efficient way in which you pay yourself from the company. Let’s face it, how many contractors draw a tax-efficient low salary of around £15,000 and dividends of around £26,000 to avoid the high rate tax threshold? From a tax planning perspective this is good news, but it also has the repercussion of reducing the mortgage amount that you are allowed to borrow from a number of the high-street banks. Before submitting an application to a lender it is always important to establish the criteria for what is considered acceptable revenue for lending purposes. This helps avoid the disappointment and frustration of being declined 2-3 weeks into the mortgage process. Some lenders like Abbey for instance will only consider salary and dividend drawings - they will not look at any retained profits withheld in the company. Even worse, some high-street lenders will only look at salary drawings not dividend payments.

MORTGAGES FOR IT CONTRACTORS BY SPECIALIST IT CONTRACTOR MORTGAGE BROKERS.

Over the years Freelancer Financials have developed strong relationships with lenders enabling us to directly package your mortgage applications to senior underwriters. This enables us to present your full earnings potential, including earnings which are not paid out but retained within the company for tax planning purposes. We search the whole market to ensure that we secure a competitive mortgage rate based on lender affordability criteria of up to 4-5 times your annualised contract rate.

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Qdos ConsultingContractor IR35, PI and Insurance

SQ Computer PersonnelContractor Recruitment

Testimonials

"We have been introducing Contractors and Freelancers to Freelancer Financials for several years now. They have established themselves as the preferred choice of financial advisors to all our IT contractors and Freelancers."

Bernie Potton SQ Computer Personnel (largest independent IT Recruitment Agency in the UK)

"John Yerou and his team provided the brokerage service for my last 3 mortgages and I cannot rate them highly enough. No matter how large or small the request they always provide a speedy and professional response. I would never consider using another advisor/broker."

Roz Clifford… Freelancer

" Finding a Financial Advisor who’s professional and knowledgeable is a bonus but one that you trust and feel comfortable with immediately is rarer still. I have recommended John to virtually all the other IT Contractors that I work with and will continue to use their services in the future."

Jakub Baluch… IT Contractor