Becoming a contractor and remortgaging

GMAD

Bottom line: what's the market like for non-IT contractors renewing a mortgage at approx 50% LTV? Ours is up early next year and, having recently been made redundant (from perm role), I'm weighing up the pros and cons of contract vs perm.

Most contracts in my industry are 3-6 months, some extend, others start at 1yr+.

Conversations so far range from:
- no lender will take you on without 1 yr accounts
- you'll be fine with 6-12 months remaining on your term
- talk to your current lender about special retention rates

Today I've been offered a 3 month contract with possible extension. Also in the running for a 6-9 month contract and 2 x perm roles.

Financially the packages are very similar. Main benefit to contracting is work/life balance, especially with kids being at school etc.

Any advice appreciated.

TIA