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someone has my name
14th September 2007, 10:48
Not sure if this has been done before or not, but
My mortgage deal runs out in December,
And it can be a pain trawling through the
Banks/ Building societies and advisors looking for a new one
( Esp as they done all seem to know who a contractor's Finances work)
so is there any good specialist companies out there that have good competitive rates?

VectraMan
14th September 2007, 10:50
Northern Rock do.:laugh

Swiss Tony
14th September 2007, 11:04
Firstly see an Independent Mortgage advisor, the ones I have working with me have access to over 27,000 mortgages, allot more than the web sites out there. A re-mortgage should be very straight forward with you looking at the lowest rate that suits your circumstances. Important to note that you do not need a years accounts and over, just an advisor that is competent with contractors and has more than NR up their sleeve.

Start seeing them now; as you will want it all to be done before your term is up. I’ve come across far too many clients who wait until they are on the standard variable rate and then think about re-mortgaging. You can do it up to 6 months in advance so by the time your old rate is up it goes straight onto the new one. PM me if you want to know more.

ST

DaveB
14th September 2007, 11:21
I went with Contractor Money, they advertise on the CUK site. Very good and got me a good deal.

blazzar
14th September 2007, 12:26
Standard Life do and they also do offset mortgages as self certification which is very handy.

swamp
14th September 2007, 12:29
I got a high street mortgage via a broker. I thought Contractor Money 's charges were too high. There is nothing special or unusual about being a contractor when getting a mortgage, you probably just have to speak to someone higher up in the organisation and a broker can do this for you.

r0bly0ns
14th September 2007, 13:58
HSBC local staff were surprisingly open to my situation when moving house earlier this year.

Especially seeing as it was my first year in business so I had no accounts...

NoddY
14th September 2007, 14:11
This is a latent Oh dear™.

It means some contractors are having visit the moneylenders to provide something as basic as a roof over their heads.

DBA_bloke
14th September 2007, 14:12
HSBC local staff were surprisingly open to my situation when moving house earlier this year.

Especially seeing as it was my first year in business so I had no accounts...

Top tip! Thanks!

I must say that I have long suspected that the High Street lenders must, these days, be far more receptive to contractors, than, say, 10 years ago.

TheFaQQer
14th September 2007, 21:19
Ask SockPuppet, he knows about Contractor Money (IIRC)

IR35 Avoider
15th September 2007, 07:50
Top tip! Thanks!

I must say that I have long suspected that the High Street lenders must, these days, be far more receptive to contractors, than, say, 10 years ago.

A high street branch of the Halifax gave me a mortgage when I'd been contracting for one year. That was in 1989.

someone has my name
20th September 2007, 12:28
Thanks for all the advice,
Think I will start looking around V soon... and hopefully,
I wont speak to a IFA who knows nothing about contracting!..
:banana::music::banana:

King Cnvt
20th September 2007, 13:37
Abbey have just launched a 125% mortgage. Doomed.

Old Greg
20th September 2007, 13:42
Um.

Why would one want to borrow more than the value of the property?

I've never understood that one...:confused:

Cos it needs to be done up?

chicane
20th September 2007, 13:43
Why would one want to borrow more than the value of the property?

To buy a spanky new car to sit outside the spanky new house, at a lower interest rate than the car dealership would offer. Such is the nature of rampant modern consumerism.

Cooperinliverp00l
20th September 2007, 14:02
I have just bought a new house and went with the finacial advisor in the estate agents. They got me a good deal with my current lender that was even better than what i could secure. There were other lenders who was willing even though i have no company accounts yet. If you explain the situation they normally have key contacts with certain lenders and can talk to them first.

They also sorted out the re-mortgage on current property moving it ot a buy to let. Very helpful and cost me nothing. They are commision based.....and before you say i was pushed for the best deal that would bring them the best commision i wasn't as all the deals i could have done myself and even refused a few.

Hope this helps.

King Cnvt
20th September 2007, 14:21
To buy a spanky new car to sit outside the spanky new house, at a lower interest rate than the car dealership would offer. Such is the nature of rampant modern consumerism.

Get a 125% mortgage and have instant negative equity. Good plan.

Old Greg
20th September 2007, 14:26
Get a 125% mortgage and have instant negative equity. Good plan.

Hide the 25% surplus and hand the keys back to the lender. Or maybe that is fraud.