Contractor mortgages

wessexw

I’m wondering if anybody here has experience with contractor mortgages, I’m a contractor and FTB and as such am absolutely paranoid about a mortgage lender pulling out on me at the last minute as a contractor is not so stable as somebody in a permanent job is. I have an AIP with C&G which I sorted out myself directly with the lender and this gives me a very good rate and monthly repayments which I really like the look of (until the rate changes!). I also have the possibility of a mortgage organized for me through a specialist contractor mortgage advisor who has good links with some other lenders however that mortgage is not such a good rate and I would be paying £150-200 more per month than the C&G mortgage

I feel like the advisor arranged mortgage would be the safer bet as they tell me that they have arranged many contractor mortgages with this lender (Clydesdale) and so I feel that they would be less freaked out by the vagaries of contractors when push came to shove than C&G might be, but the C&G mortgage is a much better rate! Part of my AIP for C&G meant that I have already been looked at by their underwriter as I was flagged for some unknown reason when I initially made the application, the underwriter came back saying it was all ok and the AIP was made, don’t know if that makes any difference or if it means sod all.

So I’m wondering what peoples experience with contractor mortgages are and how it all went? I don't know if I'd be overly paranoid by plumping for the Clydesdale and losing out on the nice C&G mortgage?