Clients of Contractor Mortgages Made Easy can now take advantage of a range of exclusive market leading rates, available from a new contractor friendly lender.
The lender, who has chosen to work with Contractor Mortgages Made Easy on an exclusive basis, has a number of mortgage products available to contractors that undercut other popular lenders.
As with all truly contractor friendly lenders; income will be assessed based on a multiple of daily rate, representing a substantial increase in borrowing power when compared to using company accounts or umbrella payslips, which will reflect any tax saving methods used. In order to verify your income, the lender will require minimal documentation including CV, contracts and bank statements.
Clients with an annualised income of £75,000 and a 12-month track record will be accepted and unlike other lenders, they will accept clients with up to an 8-week gap between contracts.
To begin with, the lender will only consider remortgage applications, allowing contractors to release up to 90% of their current property value. However, we expect the lender to start accepting house purchase applications in the near future.
Jon Hatfield, Senior Mortgage Consultant at CMME, commented: “The lender is the latest lender to choose to work with Contractor Mortgages Made Easy on an exclusive basis, enabling many of our clients to achieve mortgage funding that would otherwise be impossible.
“With an initial 32 products available to our clients, they can access some fantastic market leading rates, and expect to save money as a result of the cash back incentive and low fees that are on offer.”
An example of some of the products they have on offer, all 2 year fixed rates:
65% LTV 1.87% with no fee and £250 cash back
75% LTV 1.84% with an £845 arrangement fee and £500 cash back
80% LTV 2.24% with no fee and £250 cash back
85% LTV 2.44% with no fee and £250 cash back
To find out more about this exciting new lending option for contractors, or to discuss your mortgage requirements with one of our specialist contractor mortgage consultants, get in touch today by calling 01489 555 080.
Media Contact: Ratchelle Deary, Public Relations Manager
Tel: 01489 555 080