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Halifax releases new contractor mortgages

Saturday 15th November 2014

The well documented turmoil following the mortgage market review has meant that several mortgage Lenders are on course to miss their yearly targets as we approach the last quarter of 2014. In the past few weeks an aggressive price war has begun as Lenders play catch up before having to report their figures to the City.

Among the borrowers hardest hit by this year’s changes have been first time buyers struggling to get a foothold on the ladder so IFA ContractorFinancials is pleased to announce that first time buyers will be one of the key beneficiaries of this price war.

Flash sale - Halifax limited edition mortgages for Contractors

Thanks to the efforts of ContractorFinancials, Halifax have been long term supporters of the Contractor community, offering mortgages to those who have just started out on their Contracting career as well as more seasoned veterans. The Halifax also recognise that you might be part way through your contract rather than stipulate that you must have a fresh piece of work arranged and also offer mortgages with a minimal deposit available.

The headlines around this exciting product launch are -

First time buyers

90% LTV - 2 years fixed at 3.19% with the option of no fee, or a £999 fee and £1,000 cash back

85% LTV - 2 years fixed at 3.19% with the option of no fee, or a £999 fee and £1,000 cash back

Contractors would have needed more than double the deposit to secure a rate this low even a matter of weeks ago!

This 90% offering is welcome news for limited company Contractors if you have kept your company drawings to a minimum for tax reasons, which in turn restricts your deposit capability.

Alternatively the same 2 year fixed rate is available with a £999 arrangement fee but this can be added to the mortgage. With this second option there is a £1000 cash back. Whilst this may seem like giving with one hand and taking with the other this cashback can help cover solicitor’s fees etc or get you started on the decorating and in effect this means that you can borrow slightly more than 90%!

These headline rates are part of a whole new range of exclusive rates only available to selective brokers and unlike other firms, ContractorFinancials still won’t charge you a penny for their advice and expertise in securing and processing your mortgage.

To ensure that you do not miss out, please call one of the expert Mortgage Advisers at Contractor Financials on 0208 090 0702 today or email 123Contracting@contractorfinancials.com as rates like this will not hang around for long!

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