Want a mortgage based on your contract rate alone?

18 November 2014

Obtaining mortgage funding as a contractor can often be a frustrating and disheartening experience. Most lenders take a cautious approach and as a result, deem contractors high risk. Contractor Mortgages Made Easy (CMME) a specialist mortgage broker can ensure you have a positive experience with minimal stress.

Unfortunately, many lenders have very streamlined criteria, meaning borrowers will have their application assessed under either employed or self-employed underwriting. Consequently lenders find it difficult to assess a contractor’s full income accurately. In addition, lenders fail to understand a contractor’s remuneration structure, and simply ignore any income that does not fit in with their process. The end result is likely to be a shortfall in borrowing, or a declined application.

CMME are able to help contractors avoid these negative experiences by engaging with the lenders upfront. Through hard work and determination they have been able to secure bespoke underwriting with many high street lenders, accommodating your full gross contract earnings. Therefore, you are able to secure mortgage funding at the same competitive rate as permanent workers.

The team of experts can help any temporary worker, and will give advice suited to your individual needs and circumstances. A common rumour in the market place is that you need two to three years’ worth of trading accounts, but this is untrue. CMME can potentially assist with no trading history. No complex documentation is necessary and a copy of an up-to-date CV and current contract is usually sufficient.

Unlike other brokers, you will have two dedicated individuals to guide you through the process. An experienced mortgage consultant and a member of the clients services division, who will proactively work together to ensure everything runs smoothly, taking the worry away from yourself. 

If you would like any more information, or would like to see how CMME can help you, please call 01489 555 080, or alternatively visit: www.contractormortgagesuk.com/partner/umbrellacouk