Mortgage Blog

Why transparency about our mortgage lenders is a no-brainer

Posted by John Yerou on June 23rd, 2014 in Mortgage Blog

High Street LendersThe decision to be so transparent about our contractor mortgage lenders is somewhat unprecedented. When we first informed our brokers, you could have cut the tension with a chainsaw. Whilst we understood their reservations, neither they, us nor you need worry.

You see, we deal at a level beyond the advisers at call centres and in your local High Street branch. It’s not that we don’t trust them to reward you with the mortgage your earnings deserve. No, that’s a fib. It is that we don’t. At least not at branch level. But this is not their fault. Nor yours. Nor ours.

Continue reading about  Why transparency about our mortgage lenders is a no-brainer

Mortgage challenges for contractors: responsible lending

Posted by John Yerou on March 17th, 2014 in Mortgage Blog

business-documentThere are many myths surrounding contractor mortgages. Because high earners with impeccable credit history can struggle to find willing lenders, it’s easy to see why.

This ‘knowledge’ makes it natural to assume that a poor credit score means an immediate barrier to entry. That’s not always the case.

Continue reading about  Mortgage challenges for contractors: responsible lending

Kensington Shakes Up Contractor Mortgage Market

Posted by John Yerou on February 21st, 2014 in Mortgage Blog

Kensington-MortgagesSpecialist lender Kensington has declared its doors wide open to contractors. Even to those who may have struggled to secure a mortgage in the past. How positive a start to 2014 is that?

There are now a variety of deposits and interest rates on offer for contractors with any level of income. This is a game-changing move by Kensington and not unwelcome.

Continue reading about  Kensington Shakes Up Contractor Mortgage Market

The neutered role of today’s bank manager: a painting by numbers

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

contractWhat my dad’s bank manager taught me about security:

Do you know what used to get on my nerves about my dad’s bank manager? Apart from the never-quite-straight wig and invisible cigar fumes leeching from his every pore?

It was the way he insisted upon ruffling my hair every time I met him. Back then, those meetings (and subsequent barnet-buffing) were all-too-often occurrences.

Continue reading about  The neutered role of today’s bank manager: a painting by numbers

Help to Buy Contractor Mortgage Guide

Posted by John Yerou on October 17th, 2013 in Mortgage Blog

Help-to-Buy-MortgagesIt’s clear from the phone calls we’re getting that there’s a great deal of confusion surrounding Help to Buy mortgages. Contractors and freelancers just don’t seem to know whether they qualify. Let’s sort it out, shall we?

First of all there are two types of Help-to-Buy schemes:

  • Equity Loan;
  • Mortgage Guarantee.

Continue reading about  Help to Buy Contractor Mortgage Guide

Was there ever a case for Self-Cert mortgages?

Posted by John Yerou on May 16th, 2013 in Mortgage Blog

CautionThe Self-Cert had no place for freelancers and contractors who qualified for contractor mortgages. Yet for tradespeople who didn’t qualify, self certification of earnings served its purpose.

Zero qualification often occurred when self-employed entities kept insufficient trading accounts. Or, like many freelancers, they worked on ad hoc projects and had no regular income.

Continue reading about  Was there ever a case for Self-Cert mortgages?

Halifax offers mortgages to ALL professional contractors

Posted by John Yerou on May 15th, 2013 in Mortgage Blog

ContractorsConvincing major high street banks to consider all independent professionals’ mortgage applications isn’t easy. So when Halifax Bank told us it was broadening its IT Contractor-only policy, it was cause for celebration. A little one, at least.Continue reading about  Halifax offers mortgages to ALL professional contractors

Buy-to-Let is the new contractor pension; protect that future!

Posted by John Yerou on January 2nd, 2013 in Mortgage Blog

Buy to let investment is one of the preferred choices of long term security for UK contractors. For many of our clients, buy to let (BTL) mortgages form an important part of their retirement plans.

It’s no surprise. Monthly rental income can provide a welcome boost today. But it’s the capital appreciation over the long term that’s the main attraction. It can – and often does – provide better yields than a pension plan.

Continue reading about  Buy-to-Let is the new contractor pension; protect that future!

New Year, mortgage cheer for contractors?

Posted by John Yerou on January 2nd, 2013 in Mortgage Blog

Contractor Mortgage OptionsAs Christmas and New Year fade into the background, many people’s thoughts turn to buying a new home. The reasons are many:

  • prospective first-time buyers petrified by the claustrophobia the holidays brought;
  • empty-nesters looking to downsize once the winter fuel bills land on the welcome mat;
  • growing families reminded over Christmas that they need more space;
  • or those same families looking for a location closer to a good school or an easier commute.

Continue reading about  New Year, mortgage cheer for contractors?

Cover your asset from the interest-only mortgage timebomb

Posted by John Yerou on November 21st, 2012 in Mortgage Blog

There are thousands of self-employed people sat on interest-only mortgages. Our fear is that, like many, they’ll not have funds to repay the outstanding mortgage loan amount when it’s due.

If you dread the same about your situation, the time to ensure you’re not left with a huge bill you can’t pay is now.

Continue reading about  Cover your asset from the interest-only mortgage timebomb

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