Mortage for contractor with large investments & deposit?

shopping_queen_2

Hi,

I wonder if anyone can help please?

After 19 years with one employer, I was made redundant and from Nov last yr started to do contracting.

I wish to buy a house priced at £300k and have £100k deposit so only need to borrow £200k.

I have approx £120k of investments (shares/isas etc) and my contracting rate is £500 per day.

The only issue is I've only been contracting for 3 mths (although I know my contract is about to get extended again for at least 3 mths).

Hubby is self-employed and although he has a high turnover is showing little profit (although could show £39k this yr, if required).

Does anyone know of any lender who would lend to us (even if they took security over our investments?).

Thanks!!!

Thrugelmir

Do you already own a home?

paulb567

Try http://www.contractorfinancials.com/

shopping_queen_2

Thrugelmir wrote: »

Do you already own a home?

Yes, I do. That's where the £100k is coming from. I've had a mortage for 18 yrs with no issues.

MBM

If you are an IT Contractor there are a couple of lenders who will look at your contracted daily rate, multiply this by 5 and then by 48. They then use this figure as your income.