Historically getting a mortgage as a self employed person or a contractor has been difficult however, this is a thing of that past. We have specialist brokers in this field and our Top Rated Advisers can help you get a mortgage.
Purchase
Simple Mortgage
If you have 10% or more deposit available, we consider this to be a Simple Mortgage. These mortgages are straight forward, easy to understand and often the best value for money!
95% LTV Mortgage
This type of mortgage allows you to buy a home with just a 5% deposit.
Let To Buy
You can do this by remortgaging your current home onto a buy-to-let mortgage and using the equity released to buy a new property.
Capital Raise Remortgage
If you have equity in your current property, you can borrow more for home improvements, paying off debts or even towards a new property purchase. You can increase your mortgage up to 90%LTV.
Further Advance
Change the existing terms of your current mortgage by increasing your mortgage without having to pay an Early Repayment Charge.
Remortgage
Mortgage Switch
Switching your mortgage to a new rate with your existing lender could be the best option for you and we can do it for you!
Like for Like remortgage
If you’re not looking to change anything with your mortgage other than the interest rate then we have thousands of mortgages to compare many of which are exclusive that even your own bank wont offer you.
Capital Raise Remortgage
If you have equity in your current property you can borrow more for home improvements, paying off debts or even towards a new property purchase.
FAQs
How much can I borrow?
As a general rule of thumb most lenders will allow you to borrow x4.5 your annual income. To get an indication of how much you can borrow use our mortgage calculator.
Will I qualify for a mortgage?
Every application is assessed on an individual basis but the broad criteria are:
- You must have a current contract in place.
- You need to prove continuity in the type of work you do.
- Borrowers new to independent work are acceptable.
- Income can be defined via annualised rate.
What rate can I get?
Before independent professional mortgages were created, many contractors, freelancers and consultants had to rely on self-certified mortgages with higher rates and higher fees. This is a thing of the past and today with our help you can secure the same mortgage rate as someone on PAYE.
How is my application assessed?
A standard mortgage application is assessed based on salary plus dividends and/or net profit if you run a limited company. If you’re using an umbrella company then it will be your PAYE income. When you are unable to provide trading accounts an independent professional application is evaluated based on your gross contract rate, with less emphasis on how you get paid. We use your current contract rate to establish a borrowing figure, and a copy of your CV, to demonstrate your skills and experience.
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