Mortgage Blog

Renaissance amongst lenders, but is it too little too late?

Posted by John Yerou on November 23rd, 2015 in Mortgage Blog

Mortgage LendersReading 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?

What are contractor mortgages?

Posted by John Yerou on October 7th, 2015 in Mortgage Blog

Contractor Mortgage Keyboard ButtonBut it would surprise you how few mainstream lenders ‘get’ contractor payment structures. Or it definitely seems to you that they’re ignorant at branch and call centre level.

The good news is that, if you’re a contractor looking for a mortgage, we can help.

Continue reading about  What are contractor mortgages?

Halifax slashes mortgage rates for first time buyer contractors

Posted by John Yerou on September 18th, 2015 in Mortgage Blog

HalifaxFor 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

First Time Buyers Account for 3 in 10 Home Sales (Feb 2015)

Posted by John Yerou on April 1st, 2015 in Mortgage Blog

Mortgage DepositWhy 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)

The High Street Lending Model – why it sucks for contractors

Posted by John Yerou on January 13th, 2015 in Mortgage Blog

contractors-v-freelancers-sWe’ve had mixed reviews of our video highlighting the problems self-employed people face looking for mortgages on the High Street. And, to be honest, we fully expected a reaction. Yeah, we weren’t disappointed. But we stand by what we say in the video – it needs shouting from the rooftops.

What we didn’t want was another boring ‘put your employee on the spot answering a mundane question’ type video. There are enough of those around to bore us until the next millennium.

Continue reading about  The High Street Lending Model – why it sucks for contractors

Has Help-to-Buy increased mortgage likelihood for contractors?

Posted by John Yerou on December 10th, 2014 in Mortgage Blog

Help to BuyMany contractors believe that owning a home with only 5% deposit is impossible. Far from it. Others think that self-employed people need larger deposits than permies. Again, that’s so not true.

Using the government’s Help-to-Buy scheme, anyone can buy home in the 95% loan-to-value bracket. In English, that’s a mortgage based on you having just 5% deposit set aside.

Continue reading about  Has Help-to-Buy increased mortgage likelihood for contractors?

Mortgage options for contractors with Leeds Building Society

Posted by John Yerou on October 29th, 2014 in Mortgage Blog

leeds-building-societyLeeds is the latest lender to add contract-based mortgage underwriting to its product range. The Building Society is rolling out this outstanding addition to their portfolio in phases.

That means there will be a pilot period. During the trial the mortgages are only available through a select number of specialists. I’m over the moon that Leeds BS has chosen Freelancer Financials for the wider roll out to market.

Continue reading about  Mortgage options for contractors with Leeds Building Society

What took Halifax so long to offer non-IT contractors mortgages?

Posted by John Yerou on September 11th, 2014 in Mortgage Blog

Halifax BankHalifax was the first High Street lender to offer IT Contractors mortgages. Yet up until 2013, the bank’s underwriters recognised no other contracting sector. If you weren’t an Information Technology professional, you didn’t qualify for contract-based underwriting.

We’re happy to say that’s changed. Halifax now offers mortgages to contractors outside of IT. But it’s taken a long time for them to remove that barrier.

Continue reading about  What took Halifax so long to offer non-IT contractors mortgages?

How do I find a contractor-friendly mortgage lender?

Posted by John Yerou on July 2nd, 2014 in Mortgage Blog

Lenders Branch ManagerBefore applying for a mortgage directly to a bank, we advise contractors speak first to a financial adviser. True, we are independent financial advisers who specialise in helping freelancers and contractors. So, we’d forgive you for thinking: “You would say, that, wouldn’t you?”

But rest assured, we recommend caution when approaching High Street banks for a mortgage for good reason. Based on years of experience, we can confirm with certainty two things:

Continue reading about  How do I find a contractor-friendly mortgage lender?

check-out
Close

Thanks for your enquiry,
we’ll be in touch soon!

020 8421 7999
Request a Call Back
Do NOT follow this link or you will be banned from the site!

Incorporated in England & Wales. Company Registration Number: 5013239 | Data Protection Act Registration: Z9469673

Consumer Credit License (CCL): 562464 | Registered Office: Avondale House, 262 Uxbridge Road, Hatch End, Pinner, Middlesex, HA5 4HS