Mortages for Contractors

[Gaffer]

I know of Northen Rock and they have mixed reviews.

Are there any other companies that will provide contractors with mortages?

Claire

[Pickled Piper]

Yes, most of them will. They will probably need to see about three year of accounts. Also, stop calling yourself a contractor unless you dig roads for a living. I am assuming you are self employed. Since a sizeable portion of the workforce are now employed this way it really is not such a big deal.

pp

[Gaffer]

I have only been digging roads for a year, but in perm employment for 5 years before that.

Will that help my cause.

I am with the RBS and they dont seem too keen.

Claire

[Plotloss]

2/3 years of books or a sizeable deposit and a self cert.

[tiga84]

[. Also, stop calling yourself a contractor unless you dig roads for a living.
pp[/quote]

Ah, the old Asphalt Application Consultants.........

[bigandclever]

These chaps were very helpful...
www.contractormoney.com/

[Scruffy]

Try not to disturb minimax - he's sorting mine at the mo!!!

Nope - recommended!!

There is always a way, Gaffer...

[ge2]

When I got my first mortgage I was working abroad using an umbrella company so on paper I was employed anyway.

I was expecting trouble when I remortgaged as I was then working through my limited company but there were no issues. Apparantly, if you're well established in what you're doing it's not a problem.

I do recall having to get a letter from my accountants stating an estimated salary, but that might have been for something else, a loan maybe?

Having said all that it probably depends on the lender anyway.

[Gaffer]

Thanks guys, an email to Minimax seems to be in order.

Claire

[t1grm]

Why do independent consultants keep describing themselves as a contractors or self-employed to financial institutions when most of them work for limited companies? I don’t describe myself as a contractor or self employed for financial transactions. I am an employee and I give the details of my employer. The fact that my employer has one shareholder and one employee – me should be of no relevance. The legal obligations are the same.