A Guide to Contractor MortgagesMortgages for a contractor can at times be a minefield. The main reason is due to lenders having different views on the role of a contractor. In the majority of cases you are either employed on a short term contract or self-employed working for a company.
Improving your mortgage applicationThe common thought process when looking for a mortgage is the perfect mortgage deal will be dealt with easily and quickly. Unfortunately the majority of bank staff do not hold the relevant skills and expertise to handle contractor mortgage queries.
Mortgage Brokers ExplainedContractor mortgage brokers come highly recommended. They are built on meeting the needs of their clients and ensuring that their experience is a pleasant one. The contractor mortgage specialist will ensure the needs of their client are at the forefront of their mind.
Dealing with a declined mortgage applicationIt is not surprising that many contractors have their mortgage application turned down if they choose to approach the lender directly. Many lenders do not have the skills or expertise to understand the innovative ways a contractor can be paid.