Originally posted by revelator1969
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Mortgage Lenders Who Only Use Experian
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Originally posted by revelator1969 View PostThanks for the reply. I wish it was that easy for me. This broker has suggested applying to Nationwide and hope that the discrepancy wont be a problem.
If I were your broker, I would be talking to Accord Mortgages. Unfortunately, they only work with a hand full of mortgage brokers when it comes to contractor mortgages. So you need to make sure that your broker is approved by them.Comment
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Originally posted by Freelancer Financials View PostThe Mortgage Brain have misunderstood Halifax's contractor policy. You don't need two years contracting history. If you're an IT Contractor they don't have a minimum income requirement. But if you're a non IT Contractor you need to be on a minimum daily rate of £312.50. You're in this predicament because you're not getting advice from a contractor mortgage specialists. Your first course of action is to get your broker to sort this out with the underwriters. If your broker doesn't have sufficient clout to sort it out then you need to be careful who you go to next. You can't just keep submitting applications otherwise this will effect your credit score. You need a lender that will assess you on your gross contract income and also use a common sense approach to your credit score predicament. One such lender is Accord. Their rates are pretty good as well.
I have spoken to someone from your company today but i need to get my accounts from my accountant. I dont know why you guys are the only brokers that have asked for my accounts but ill get them sent over tomorrow.
I read halifax are flexible on the minimum 2 years if you have a LTV of 70%. I need 90% LTV.Comment
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Originally posted by Lance View PostI'm pretty sure that the ombudsman is only interested after you've exhausted all other avenues directly.Comment
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Originally posted by Freelancer Financials View PostNationwide are a good lender and they have a good contractor policy. But they also have strict credit scoring systems. Before your broker submits an application, make sure he discusses the case with them first. You don't want to get another decline. That won't help you at all.
If I were your broker, I would be talking to Accord Mortgages. Unfortunately, they only work with a hand full of mortgage brokers when it comes to contractor mortgages. So you need to make sure that your broker is approved by them.Comment
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Originally posted by revelator1969 View PostThanks for your reply. On your website it says this regarding the Halifax requirements for a contractor mortgage. 'Contractors on their first contract must have history in the same profession for at least 2 years;'
I have spoken to someone from your company today but i need to get my accounts from my accountant. I dont know why you guys are the only brokers that have asked for my accounts but ill get them sent over tomorrow.
I read halifax are flexible on the minimum 2 years if you have a LTV of 70%. I need 90% LTV.Comment
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Originally posted by northernladuk View PostSame profession. Doesn't matter about style of engagement.Comment
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Originally posted by revelator1969 View PostHalifax need 2 years books. I called Nationwide, it seems they require 2 years books also.
I'm not sure if I'm allowed to post this, but it's useful. If the moderator wants to remove, then feel free to do so. I just thought it would explain Nationwides criteria towards contractors.
https://www.freelancerfinancials.uk....ding-criteria/Comment
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Accord Mortgages
Another lender that we're using for contractors that is very contractor friendly is Accord.
We really like them because they use a commen sense approach to underwriting and treat every case individually on it's own merits.
They also consider cases that have adverse credit.
https://www.mortgagestrategy.co.uk/a...sed-mortgages/Comment
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Originally posted by Freelancer Financials View PostAnother lender that we're using for contractors that is very contractor friendly is Accord.
We really like them because they use a commen sense approach to underwriting and treat every case individually on it's own merits.
They also consider cases that have adverse credit.
https://www.mortgagestrategy.co.uk/a...sed-mortgages/
The mortgage from Accord says it is only for people on more than £75,000. I dont earn that much, i wish i didComment
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