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Mortgages

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    Mortgages

    Serious question for a change..

    My tracker mortgage is about to end and it will jump from 2.49% up to 6.49%.
    Obvioulsy I want to change and my bank FirstDirect have some half decent offers.

    But, I've never applied for a mortgage as a contractor, and I wondered if anyone else had recently had any success.

    I have a v.good credit history but in the current climate didn't know if it was worth applying. Certainly don't want to blot the history by being refused.

    #2
    I remortgaged with First Direct (offset) a few months back, they have no problem with contractors.
    As well as decent BOE rate trackers their SVR is only 3.69% at the moment.
    Not sure whether they will pass on the latest 0.5% cut in full, there is usually a month's lag but they like to undercut the opposition on SVR.

    Comment


      #3
      Originally posted by bellymonster View Post
      Serious question for a change..

      My tracker mortgage is about to end and it will jump from 2.49% up to 6.49%.
      Obvioulsy I want to change and my bank FirstDirect have some half decent offers.

      But, I've never applied for a mortgage as a contractor, and I wondered if anyone else had recently had any success.

      I have a v.good credit history but in the current climate didn't know if it was worth applying. Certainly don't want to blot the history by being refused.
      What is you LTV%? If under 70 you may well find that current lender will negotiate. Always worth getting another quote to play off against them. If they match you will save yourself the fees.

      Comment


        #4
        Cheers for the info.

        I'm well below 70% LVR so I might give them a call. Don't hold out too much hope tho as their website now states they dont do trackers at all.

        Comment


          #5
          I used a broker, seem to be clued up about getting mortgages for self-employed people and got me an excellent deal about 6 months ago. No idea what they can do currently though. PM me if you want the contact details of the chap I dealt with.
          Last edited by Contractor UK; 10 March 2020, 11:10.

          Comment


            #6
            Originally posted by Tensai View Post
            I used a broker, seem to be clued up about getting mortgages for self-employed people and got me an excellent deal about 6 months ago. No idea what they can do currently though. PM me if you want the contact details of the chap I dealt with.
            I used contractor financials for my last remortgage as well. Seemed very good and very efficient.
            Last edited by Contractor UK; 10 March 2020, 11:10.
            "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

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