Posted by John Yerou on June 24th, 2016
We know that homeowners remortgage for many reasons. They may want to:
- save money switching to a new introductory offer;
- release equity for home improvements, travel or major life event;
- reduce the term of their mortgage with a new deal.
Continue reading about It’s a prime time for contractors to remortgage off their SVR
Posted by John Yerou on April 7th, 2016
In the run up to the budget, the tabloids portended doom for contractors working through a PSC. For those working off-payroll in the public sector, those harbinger headlines became reality.
The Chancellor announced that PSCs will have no say in how public sector clients pay them. As of April 2017, it will be the client who decides if IR35 applies to an engagement.
Continue reading about Chancellor revokes contractors’ rights to decide payroll status
Posted by John Yerou on March 18th, 2016
So, the Chancellor used yesterday’s budget to continue his vendetta against contractors. In particular, he’s targeting contractors operating through personal service companies.
The reason for this fresh assault on independent UK professionals? To curb tax avoidance.
Not that most contractors create a limited company to save on tax. But if they had their way, that’s what the government and media would have you believe.
Continue reading about Budget launches yet another attack on contractors working through personal service companies
Posted by John Yerou on November 23rd, 2015
Reading the news last week was heartening for contractors in one respect. There are more new mortgage lenders prepared to work off day rates than ever before.
The bad news? National headlines in the Guardian and Mail Online made dire reading. They reported that Chancellor Osborne is gunning for contractors yet again.
Continue reading about Renaissance amongst lenders, but is it too little too late?
Posted by John Yerou on October 7th, 2015
To understand contractor mortgages, you first have to understand contracting. That may sound obvious. But it would surprise you how few High Street lenders are yet to grasp this popular way of working. Or at least it seems that they don’t ‘get it’ at branch level.
The fact is, there are lenders who accommodate limited company contractors. But if a bank has such policies in place, they tend not to make them available on the High Street. The reasons? Security and compliance.
Continue reading about What are contractor mortgages?
Posted by John Yerou on September 18th, 2015
For a limited time, first-time homebuyers with at least a 10% deposit can fix 2.94% for two years. This is nothing short of an absolute bargain.
The new 2-yr fixed interest rate represents a cut of 0.45% off its previous 3.39% deal. In mortgage terms, that’s a substantial reduction or should I say ‘saving’, for borrowers.
Continue reading about Halifax slashes mortgage rates for first time buyer contractors
Posted by John Yerou on April 14th, 2015
Should contractors work through an Umbrella or through their own Limited Company? True, there are specific times when you’d consider an Umbrella more beneficial. But when it comes to applying for a mortgage, Limited is always better.
Continue reading about Which is best for contractors, umbrella or limited company?
Posted by John Yerou on April 13th, 2015
Casting off from the shores of permanent employed is a big decision. The stormy, but often lucrative, waters of contracting or freelancing await the intrepid adventurer. But before launching yourself into the deep, stop. Just for a moment, at least, to consider your options.
In particular, you need to think about your new business. What’s the best way to minimise your long term tax liabilities? How, at the same time, can you maximise your income? And how can you juggle the two to make it easy for your customers to deal with you.
Continue reading about Why contractors choose Limited Company payment structures
Posted by John Yerou on April 9th, 2015
So. You’ve secured your first contract. You’re with your recruitment agent, who says “Great. Now you need to find an umbrella company“.
Or you may not be quite at that stage. Instead, you’re mulling over leaving your permanent role to take up a contract offer. You’re not quite sure what that will entail. Now you’re researching ways to operate, umbrella companies being one such way.
To help you make the right decision, you need to know why umbrella companies were born. Moreover, what their role is today amongst the options open to you. Let’s go.
Continue reading about Umbrella Companies – A Guide for Contractors
Posted by John Yerou on April 1st, 2015
Why is it that so many contractors think first buyer mortgages are off limits to them? They’re not, of course. But do please forgive me for committing this old bugbear of mine to digital ink.
So, what ignited the conundrum this time? I saw the February 2015 Housing Report figures from NAEA and it was like, Ping! – a light bulb moment.
Continue reading about First Time Buyers Account for 3 in 10 Home Sales (Feb 2015)
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- It's a prime time for contractors to remortgage off their SVR
- Chancellor revokes contractors' rights to decide payroll status
- Budget launches yet another attack on contractors working through personal service companies
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