Mortgages For Contractors
At Breeze Mortgages, we’re all about finding the right mortgage for the way you work.
We understand the complexity of contracting and the difficulties it can cause when trying to secure a mortgage. Whether you have been contracting for years, or are about to start your first contract, we can help.
Contractors and Freelance workers are different from our clients who are employed on a permanent basis. Most commonly our clients work on shorter fixed term contracts and run their own business. The mortgage market is constantly evolving, with criteria for lending, internal policies, interest rates and terms being subject to change according to shifting trends in market demand.
Here at Breeze, we work with many different types of contractors and are experienced in understanding the best way to utilise your income, to give our clients the best possible outcomes. Banks are notorious for not seeing the bigger picture, so as your broker we can package your application, so that underwriters understand your income just as we do.
We specialise in Day Rate contractors.
If you have a specified day rate on your contract, to maximise the amount you can borrow we can look at your day rate to work out your annual income. Instead of using accounts or tax returns to calculate your income, using your day rate can increase your level of borrowing. Some high street lenders can consider this; however, you will need an expert to guide you through the process.
We are experienced with CIS contracts:
CIS is most common within the construction industry and it can be quite difficult for lenders to understand a client’s income on this type of contract. With our years of experience, we can find a lender to use the correct income and documents, to help obtain the borrowing you need.
We are experienced with NHS Training Contracts:
If you are starting off with the NHS or currently enrolled on a training programme to become a Doctor for example, you may have limited history of contracting. Lenders can look unfavourably at a this for professionals, but there are lenders who understand your expertise and can help.
If your contract does not fit into one of the above, don’t worry! We have specialists who will be able to assess your contract and find the best lender, to ensure you get the best mortgage possible.