In January we published an article about the issues with trying to secure a mortgage when you are a freelance contractor. This article got great feedback and we and our specialist mortgage advisers were able to assist a number of client who had been told by high street banks they could not borrow.
After more clients in the last two months have been complaining to us about high street banks, we wanted to publish the article again for anyone who did not read it the first time round.
Thinking of buying a house? Need a mortgage? Your first point of call should NOT be a high street bank!
Choose a broker who understand the freelance contracting world, it will save you a lot of time and stress explaining your income and accounts.
High street bank "mortgage advisers" generally have no idea about the freelance contracting world and when it comes to explaining your income they will more often than not look like a rabbit caught in the headlights. We have had clients come to us after speaking to an adviser in a high street bank who said they could not get a mortgage anywhere. Two days later they have secured a mortgage with the same bank. How is this done? Easy, cut out the computer says no high street "adviser" and go straight to a specialist broker who can access the whole of the market - including the high street bank's mortgages.
The number of requests for completely irrelevant information that we receive from high street mortgage advisers is huge. We find ourselves educating them on basic accounting terms that you would expect anyone working in a bank would know.
Please, please, please, do yourself a big favour and if you are looking to buy a property in 2015, speak to the experts at Contractor Financial who will talk you through your options, instantly understand your income profile and not ask irrelevant questions.
For more information please contact Christopher on firstname.lastname@example.org