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  1. #11

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    Last year when I wanted to raise some funds for building work ( I had no mortgage at the time) I went direct to my personal bank, Halifax. Easy and understanding of a contractor and offered far more than I wanted to borrow at a good rate too.

  2. #12

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    Quote Originally Posted by Yorkie62 View Post
    Last year when I wanted to raise some funds for building work ( I had no mortgage at the time) I went direct to my personal bank, Halifax. Easy and understanding of a contractor and offered far more than I wanted to borrow at a good rate too.
    That's what I did too earlier this year. Halifax base lending on turnover and not sal/divs only.
    Don't use L&C as they were cr*p.
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  3. #13

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    I've heard in various places that Halifax are really quite contractor friendly. I guess it helps to have a banking relationship with them but it's not entirely necessary.

  4. #14

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    Quote Originally Posted by ladymuck View Post
    I've heard in various places that Halifax are really quite contractor friendly. I guess it helps to have a banking relationship with them but it's not entirely necessary.
    You don't need a banking relationship with them at all. Just proof of contract with at least 2 months to run I think it is. You don't even need to provide previous years accounts.
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  5. #15

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    Quote Originally Posted by kaiser78 View Post
    You don't need a banking relationship with them at all. Just proof of contract with at least 2 months to run I think it is. You don't even need to provide previous years accounts.
    Pretty much this, just show them the contract and you should be good.

  6. #16

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    Halifax love a contractor.

    Borrowed 4.5x contractor income (assumed 48 weeks) 2 months after going contracting. All they needed was evidence of at least a month left to run when the offer was made and convincing that I had prior experience in the same line of work.

    Mortgaged to the hilt with eye-watering payments - pre-credit crunch careless lending is back!

  7. #17

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    Quote Originally Posted by fiisch View Post
    Halifax love a contractor.

    Borrowed 4.5x contractor income (assumed 48 weeks) 2 months after going contracting. All they needed was evidence of at least a month left to run when the offer was made and convincing that I had prior experience in the same line of work.

    Mortgaged to the hilt with eye-watering payments - pre-credit crunch careless lending is back!
    Nice one


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