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mortgage for contractor
Options
caronoel
Posts: 908 Forumite
Asking on behalf of my brother.
He was in a permanent role until he was let go last Summer.
He has been working pretty much full time since then as a contractor, on a very healthy day rate.
Issue is that he now wants to remortgage.
Will any mortgage provider consider lending to him, without a full years trading history?
He was in a permanent role until he was let go last Summer.
He has been working pretty much full time since then as a contractor, on a very healthy day rate.
Issue is that he now wants to remortgage.
Will any mortgage provider consider lending to him, without a full years trading history?
0
Comments
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A good time to apply will be after 13 months contracting when he has 6 months left on his current contact.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Which mortgagors are most likely to offer credit? He is currently with HSBC0
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Best to speak to a broker. Also ideally would be best for 2 years of SA302 to show his salary and dividends in order to get more variety of mortgages."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
He does not need the SA302s if he uses a lender, with a specific Contractor policy of which there are about half a dozen.
We brokers on here cannot suggest Lenders as that could be considered 'specific advice' which is not appropriate on this forum.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Speak to a broker with contractor experience as he could have options on day 1 rather than waiting for his SA302's/accounts etc.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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