Weekly Q&A
- Friday, February 14, 2014 by
- Douglas And Gordon
- 0 comments
- In #Weekly Q&A
Weekly Q&A With Ed Mead And Andrew Montlake - Week 24
A weekly questions and answers session with Ed Mead and Andrew Montlake
-
Is it hard to get a mortgage these days if you move on to a contract rather than a normal employed position? -
@Paul: Hi Paul, good question, there has been alot of talk that those who are on a contract or self-employed will find it difficult to get a mortgage and for a time after the credit crunch that was certainly true. The good news is that lenders are getting better at offering loans to those on a contract, especially if you are moving onto one in the same area that you have been working in for a while. cont -
@Paul: Lenders generally look at your experience and as a rough rule of thumb look at your daily rate multiplied by 46 or 48 weeks in order to get your "basic" salary. Some lenders require a 2 year history of contracting whilst others are more flexible - we did have a blog about this if you need further informationbut the good news is there are options available so worth speaking to a good broker with experience in this arena
Mortgages For Contractors & Freelancers – It Does Not Have To Be Complex | Coreco
Contrary to popular belief, mortgages for those employed on a contract basis or who are freelancing does not have to be so complex. If you have just started
Comments