Completing your contractor mortgage application - Deal Direct can help.

Deal Direct’s experts can help guide you through the entire process of completing your contractor mortgage application.

The rising number of self-employed people in the UK is making a significant contribution to the economy. However, when it comes to obtaining a mortgage, many contractors can struggle.

Someone who is working for themselves may receive their income in the form of company dividends. It could also be that a self-employed person has more than one income stream, but both of these scenarios fall outside the standard model used by traditional lenders.

If your financial circumstances are complex, the lender might well reject your application, which could have a negative impact when it comes to applying for other mortgages later.

Before applying to a more traditional lender, you should be aware that specialist lenders exist, that fully understand the plight of the self-employed, when it comes to home financing. Deal Direct has strong relationships with many of these specialists and can help to source a mortgage that has been designed with you in mind.

In addition, our experts will check your latest year’s finalised accounts and confirm the professional   qualifications of your accountant to the lender, or whether an SA302 is required instead.

Sole traders may not operate a business account and may think, therefore, that they are not eligible for a contractor mortgage. However, this is not the case as some lenders accept statements from personal accounts, as long as it is the main account through which trading is done.

It is very often the smallest details that mean the difference between your application going through smoothly or being subject to delays. Why not let one of our experienced advisers help you with yours. 

For the best contractor mortgage advice, call Deal Direct on 0800 048 8828.