- Ben Goble - Thank you for the email. I have just received a call from the solicitors, the keys have been released today. Myself and my wife are so grateful for your hard work in securing this mortgage for us. We really thank you so much, we had given up hope at one point and we were starting to believe this day would never come. Thank you again.Crees, October 2014
- Hi Alexandra – many thanks again for all your support and help during this process - I look forward to talking with you again in the near further.Peter, October 2014
- Susan arranged my mortgage for me towards the end of last year. She was extremely helpful throughout the whole process, keeping me updated all the way and offering assistance with any problems or delays that cropped up. I wouldn't hesitate to recommend her to any contractors looking to secure a mortgage.Ben, October 2014
- Hi Mark, Hi Elizabeth, I just wanted to write you both a note to say thank you from myself and my family – we moved into the house on 4th August and couldn’t be happier, many thanks to you both for making it possible for us to finally own our own house again!Peter. September 2014
- I was given a great service by Olivia Harland and I was delighted with the service from Contractor Mortgages Made Easy.Shaun, September 2014
Frequently asked questions
The rate you can obtain on your mortgage is no different to the rates that are available to any other employed or self-employed individuals. Prior to these products being launched many contractors were reliant on self- certified mortgages, where they paid a higher rate and higher fees.
Not every lender is contractor-friendly, however a growing number are. These include well known High Street names such as the Lloyds Banking Group, Clydesdale Bank, Barclays, Nationwide, Virgin Money (previously known as Northern Rock), Natwest and numerous smaller building societies.
These products are no different to any other mortgage in terms of pricing. The difference is how the lender will assess the application. Lenders will not look at traditional forms of income assessment but rather channel the application towards bespoke underwriting criteria specifically available for the contractor and freelancer community.
Each application is assessed on an individual basis, but the broad criteria is as follows:
1) There must be a current contract in place 2) Continuity should be provable in the type of work being done 3) Borrowers new to contracting are acceptable. 4) Income can be defined via annualised contract rate