Contractor mortgages – jump through the hoops successfully.
Securing a contractor mortgage continues to be an unrelenting challenge. Despite the growth in the number of self-employed professionals, lenders keep their standards for application the same. As a result, contractors continue to be viewed as high risk.
The reason for this is lenders wonder how you will keep up your repayments once your contract finishes. Banks and building societies are interested in lending to those who are seen as low risk, and in their opinion the self-employed fall outside of this bracket.
Does this mean funding is impossible if you are a contractor?
No. Competitive contractor mortgages are available despite the current situation. Whether you are newly self-employed or have been turned down for a mortgage before, with the help of specialist broker Deal Direct, it is still possible to secure an offer.
Deal Direct has formed excellent relationships with contractor-friendly lenders over the years, and are well aware of how each one works. Our advisors are an authority in this field, we know exactly how to present your application to increase your chances of mortgage success.
As we have tailored contractor-based underwriting, our experts at Deal Direct could help you avoid annoying obstacles. These may include borrowing the full amount you need as well as overcoming the issue of your future earnings.
To discuss your contractor mortgage requirements, talk to a member of our team at Deal Direct today.
Call 0800 048 8828 now.
