At QAccounting, we know how tricky it can be to get a Mortgage sorted as our clients tell us – it’s a major frustration for them.
The Usual Scenario:
Mr Joe Contractor wants to buy a new house with Mrs Joe Contractor, but he’s been trading through a Limited Company for under a year providing services to a large corporation.
The Usual Problem:
Joe has gone down the usual routes he did when he had a staff position in 2011 when he found his first Mortgage, but it seems a lot more complicated this time round.
He’s been told that as he has no ‘guaranteed income’ through Contracting in comparison to a salary, he has a higher chance of defaulting as a loan. Now Joe Contractor knows that he is technically proficient at his job and that if this contract falls through it would be a piece of cake to get another contract lined up. However, the mortgage brokers are demanding three years of signed accounts. This is mission impossible for Joe, as he hasn’t had a Limited Company for that long – he’s only been contracting for a year or so.
Help is at hand!
At QAccounting we are Specialist Accountants for Contractors and Freelancers, so we know all about the difficulties in obtaining the right Contractor Mortgage.
It’s for this reason that we are happy to announce that we have joined forces with Contractor Mortgages Made Easy, who are the leading national mortgage brokerage specialising in bespoke mortgage solutions for Contractors, Freelancers and Consultants, to help our clients with all of their mortgage needs.
It’s their job to help you avoid the disappointment of going down the traditional route of applying for a mortgage, as they understand the unique circumstances that you operate in.
We advise going through a Contractor Specialist Mortgage provider for the following reasons:
- The mortgage you receive will be based on your Contract Rate alone
- They have negotiated bespoke underwriting terms for contractors, with many high street lenders.
- They offer impartial advice, and have access to hundreds of mortgage offers from the whole of the market.
- They do everything they can to avoid unnecessary paperwork, time and hassle for you.
Here’s a word from Contractor Mortgages Made Easy:
“The current lending climate is one where lenders are looking for any reason to decline a mortgage application. This backdrop is a challenging one for a contractor looking to obtain a mortgage on competitive terms. At Contractor Mortgages Made Easy we have worked hard to build relationships with reputable lenders, and educate their risk assessors that contractors are a good risk for lending. We are able to negotiate alternative evidence of earnings to verify affordability, as opposed to the usual pay slips and 3 years trading accounts that banks ask for when applying directly. Our bespoke mortgage underwriting for contractors has helped many contractors successfully obtain funding, taking the stress out of moving and remortgaging.”
– Taj Kang, Associate Director at Contractor Mortgages Made Easy
Contact us for more information.
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