Accord’s flexible contractor mortgage available in the New Year.
Accord are planning to make its contractor mortgage scheme widely available in 2017. As they have been running a pilot to test the market, the mortgage so far has had limited availability. Because of the success of the scheme, this limit will likely be lifted next year.
From 2017, applications will be invited from contractors who have a trading history of no less than 12 months. The trading period does not have to be continuous, as a void of up to 8 weeks between contracts is allowable. To be considered, you must have a daily rate of £400 or earn an annual sum of £75,000.
Contractors now make up 22% of the UK’s workforce, yet many lose out on owning their own home. Even though the workforce is clearly evolving, many lenders have not recognised the change and contractor mortgages remain more niche than mainstream.
Fortunately, some lenders have been much more responsive and have made interesting options available. In addition, Deal Direct’s experienced advisors are masters when it comes to sourcing these options for you.
Over the years, we have developed robust relationships with niche lenders that cater for contractors, like you. They take a common sense approach when it comes to approvals, as they consider the specific circumstances of applicants on an individual basis. This means the potential for securing a mortgage is greatly enhanced.
When it comes to obtaining a loan for your home, Deal Direct are committed to finding you the very best offer.
For contractor mortgage advice you can trust, speak to an advisor today.
Call Deal Direct on 0800 048 8828.
