How to get a mortgage as a contractor/non-permanent employee?

MrsPickles

Hi,

My husband and I are wanting to get a mortgage. We have a big deposit but the problem is that as my husband is a contractor. He has just finished a 6 month permanent job and is now in the first month of working a short contract under an umbrella company. We are hoping to open a new Ltd Company in the new year.

The bank that we have both been with forever (for our current/savings accounts) First Direct, said that they can not even consider us for a mortgage until we have over a years worth of either Ltd company accounts or Umbrella Co payslips (or payslips from the same permanent job). We don't want to wait another year to get on the housing ladder as we are sick of paying rent. Plus we have seen some properties that we like the look of.

We have looked at the specialist brokers who seek out mortgages for contractors but they all want to charge £500+ just for the initial search.

Does anyone know if there are any banks that will provide us with a mortgage without so much financial history?

We have plenty of savings, have no negative credit history, pay off our small cc balances immediately, my husband is in work (albeit working through an umbrella company) and we have never been overdrawn or anything like that.

Thanks!