Contractor Mortgages

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Your home may be repossessed if you do not keep up repayments on your mortgage

As large financial institutions continue to employ more and more staff on a contractor basis – this is a huge sector of new enquiries for Just Us Financial Solutions. The majority of UK lenders are simply not interested in lending into this sector but there are a number of lenders specialising in the contractor arena. Their calculations and criteria vary widely.

It’s always important to approach the most suitable lender to you first, rather than adversely affecting your credit score through failed applications.

So whilst a calculation might fit your daily rate, you might fall out of criteria elsewhere. A meeting to discuss your needs and overall situation will represent time well spent. In particular we recommend that contractor’s are armed with an AIP (Agreement in Principle) before investing time in securing the dream property.

However terms for contractors less restrictive than for the self-employed. You can secure terms with one year (and sometimes less) behind you. The lending calculation can look like:

(Daily pay rate) x 5 x 48 (working weeks in the year)

We’d encourage you to get in contact with us when you are ready to investigate your options so that we can:

  1. Protect your Credit Score
  2. Save you a lot of time & needless hassle
  3. Arm you with an accurate and invaluable Agreement in Principle

Contact us today to discuss mortgages for contractors