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5 New Contractor Mortgages Friendly Lenders Enter The Market
Article Author: Steve Smith Posted on: April 30, 2015 (Full Author Bio in the box on the right side)
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Over the last 12 months, 5 new contractor mortgages lenders have begun to offer mortgages based on daily rate.
There’s been considerable innovation in the space over the last year; even more lenders are offering higher Loan To Values (LTV) and accepting clients with breaks in their contracting history.
UK Contractors have more choice than ever before, because of the new market entrants. Mortgages available to Contractors based on a multiple of their daily rate has soured over the last 12 months to a record breaking 1,198 mortgage products, 142 of which are available exclusively through ContractorFinancials.
Rates at most Loan To Value (LTV) are amongst the best in the market with contractors borrowing at 60% Loan To Value (LTV) having access to the three best rates in the market.
This is exciting news for Contractors, many of whom may have felt that their mortgage options were limited because of the unique way in which they work, and with more lenders set to enter the Contractor Mortgages market this year the number of options can only increase further.
You will have access to the same rates as your permanent colleagues at your chosen Loan to Value (LTV) and can even access the Government Help to Buy scheme that enables you to purchase with just 5% deposit.
Over the last 15 years the Advisers at ContractorFinancials have helped over 22,000 Contractors to avoid the financial pitfalls that you will often face if you go it alone and the great news is that they won’t charge a fee so you save £695 when you apply through IT Contractors UK.
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