At Barr Financial we know that being a contractor means it is not always straight forward getting a mortgage and often lenders struggle to understand your situation. The good news for you is we have lots of clients who are in exactly the same position you are in and we have the experience, and skills to help you. As an Independent Mortgage Broker with experience in this specialist lending sector, we are perfectly positioned to help. We are based in the South West but we help clients and business owners throughout the UK with many of them based in London and the South East. We know what it takes to help you secure the finance you need, so let us help you.
Why work with us:
We know it is easy to say, but at Barr Financial we really do focus on providing the best service possible from start to finish. We are dedicated to our clients and really want to help. We get excited when our clients secure their mortgages and even more when they complete on a new property. We know what it feels like to get a mortgage; the nervousness, anguish and uncertainty. Which is why we really do try and make the process as easy, simple and transparent as possible. We even have a client portal so you can see everything that is going on. Let us do the hard work for you.
IT Contractor Mortgages:
At Barr Financial we have lots of clients who are IT Contractors and most of them work in London and the South East. For those clients we have helped them buy their first home and many of them are now looking to invest in property as a way to help secure their future. Of course this isn''t always right for everyone, but by speaking to an adviser we can help plan out your aims and help you achieve them.
Mortgage Criteria for Contractos:
Mortgage criteria for contractors is always being tweaked. Lenders are often changing their lending criteria so it is always worth checking the current state of play by getting in touch with us.
However the good news, is lenders are starting to understand that there are more and more people who are self employed, directors and contractors. There are lots of employment types and flexible working arrangements that now exist in the UK and lenders are adapting their criteria.
To give a flavor of some of the lenders criteria:
Sometimes no accounts required - only copy of contract.
Some lenders will accept one year accounts.
Some lenders will consider retained profits not just salary and dividends.
There are rules around length of contract, time doing the role and experience, however I would advise to let us know your situation and we can then let you know if its possible.
Expert Mortgage Brokers when it comes to contractors:
At Barr Financial we have a vast knowledge of all sorts of borrowing requirements and all sorts of situations. If there is a way to help, we will find it.
The key is to understand your current situation, your immediate requirements, and your future aims. Only then can we look at you holistically and advise independently. Together we can help.