Becoming a contractor - mortgage help

[SueEllen]

Prior to the crash around 2008, it was fairly easy to get a mortgage via self declaration. Therin lay the problem. Since the crash there are more stringent rules and even as a permie it is tougher to get a mortgage. So, imagine how you look going for a mortgage as a new contractor ie no accounts never mind 3 years accounts to show them!

Personally, I dont think you have a chance getting a mortgage as a new contractor but good luck.

He can simply stay and remortgage with the same lender as long as he doesn't move.

During that time he can sort out his contracts and finances so he can move to a bigger property in 2-3 years time.

If his wife doesn't like it then she needs to secure herself a job or, if she has one, a better paying one to help it happen quicker.

[Hobosapien]

Not sure if this idea would work in reality but it may be possible to:

1. get a BTL mortgage on the new place
2. get tenants in to pay the first 6 months of the BTL mortgage while you sell your current place.
3. kick them out and move in yourself
4. remortgage onto cheaper non-BTL when contract history or personal circumstances allows.

[washed up contractor]

He can simply stay and remortgage with the same lender as long as he doesn't move.

During that time he can sort out his contracts and finances so he can move to a bigger property in 2-3 years time.

If his wife doesn't like it then she needs to secure herself a job or, if she has one, a better paying one to help it happen quicker.

He said he wants to move nearer the new job. As usual, not much use swellen.