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Contractor Mortgages
Contractors can come in many different forms:
PAYE
Umbrella
Self Employed
Seasonal
CIS
Sub Contractors
We understand that this type of work comes with pros and cons. Often being on a contract gives more flexibility, choice and is typically more lucrative. This can bring, what many believe, issues when obtaining a mortgage however knowing how to position these types of applications to lenders can often lead to more borrowing, more competitive rates and in some cases a lower level of tax to be paid by avoiding taking high unnecessary dividends.
Many brokerages state they are contractor specialists when in reality they just have a detailed understanding of lender’s contractor policies. We have found that knowing policy only gets you so far and lenders can often go outside of policy when a client's position, experience and decision for taking contract work is taken into consideration.
