Contractor mortgages...
Discussion
Looking to get in the property ladder later this year and my advisor has stated I will be treated as self employed and my dividends and salary will be used to determine the size of the mortgage I can get.
Has anyone got an advisor I can speak with to understand if this is the only menthod to determine the size mortgage I can get?
Stu
Has anyone got an advisor I can speak with to understand if this is the only menthod to determine the size mortgage I can get?
Stu
as above- speak to sarnie on here. He'll look at your circumstances and give you some advice.
for me, he sorted me out a mortgage based on previous years accounts/ earnings and not solely on my current contract/ day rate. he gave me a couple of different options and different lenders.
for me, he sorted me out a mortgage based on previous years accounts/ earnings and not solely on my current contract/ day rate. he gave me a couple of different options and different lenders.
andyc11 said:
Just gone through Mortgages for Business for mine. Excellent service and used my day rate rather than my salary/dividend structure.
I hope you didn't pay them nearly £700....."Broker Fee
It takes a lot of time and understanding to ensure a mortgage application is processed efficiently and effectively, that’s why most mortgage brokers charge a fee.
At Mortgages for Business we do not charge clients for initial advice.
An administration fee of £100 is due on receipt of an Agreement in Principle from the lender. A broker fee of £597 is then due if we are able to get you an acceptable, formal mortgage offer from the lender."
stuno1 said:
Sarnie was in touch almost straight away on a bank holiday which I was not expecting. Very quickly established what I can borrow and used my day rate as the calculation. Very happy so far.
No such thing as bank holidays for me.........or weekends..........or office hours......... 
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