our mortgage blog has all the advice you need as a first time buyer or even if your moving home or buying a second property
Posted by John Yerou on November 21st, 2016
Buying a home as a contractor can be an exhilarating trip. Even more so when that home is a new-build property.
There’s excitement, expectation and, of course, dread. You’ll be the first person to ever live under that roof, more often than not*.
Continue reading about Buying a New Build property – 10 Top Tips for Contractors
Posted by John Yerou on June 24th, 2016
We know that homeowners remortgage for many reasons. They may want to:
- save money switching to a new introductory offer;
- release equity for home improvements, travel or major life event;
- reduce the term of their mortgage with a new deal.
Continue reading about It’s a prime time for contractors to remortgage off their SVR
Posted by John Yerou on November 23rd, 2015
Reading the news last week was heartening for contractors in one respect. There are more new mortgage lenders prepared to work off day rates than ever before.
The bad news? National headlines in the Guardian and Mail Online made dire reading. They reported that Chancellor Osborne is gunning for contractors yet again.
Continue reading about Renaissance amongst lenders, but is it too little too late?
Posted by John Yerou on October 7th, 2015
To understand contractor mortgages, you first have to understand contracting. That may, and should, sound obvious.
But it would surprise you how few mainstream lenders ‘get’ contractor payment structures. Or it definitely seems to you that they’re ignorant at branch and call centre level.
The good news is that, if you’re a contractor looking for a mortgage, we can help.
Continue reading about What are contractor mortgages?
Posted by John Yerou on September 18th, 2015
For a limited time, first-time homebuyers with at least a 10% deposit can fix 2.94% for two years. This is nothing short of an absolute bargain.
The new 2-yr fixed interest rate represents a cut of 0.45% off its previous 3.39% deal. In mortgage terms, that’s a substantial reduction or should I say ‘saving’, for borrowers.
Continue reading about Halifax slashes mortgage rates for first time buyer contractors
Posted by John Yerou on April 1st, 2015
Why is it that so many contractors think first buyer mortgages are off limits to them? They’re not, of course. But do please forgive me for committing this old bugbear of mine to digital ink.
So, what ignited the conundrum this time? I saw the February 2015 Housing Report figures from NAEA and it was like, Ping! – a light bulb moment.
Continue reading about First Time Buyers Account for 3 in 10 Home Sales (Feb 2015)
Posted by John Yerou on January 13th, 2015
We’ve had mixed reviews of our video highlighting the problems self-employed people face looking for mortgages on the High Street. And, to be honest, we fully expected a reaction. Yeah, we weren’t disappointed. But we stand by what we say in the video – it needs shouting from the rooftops.
What we didn’t want was another boring ‘put your employee on the spot answering a mundane question’ type video. There are enough of those around to bore us until the next millennium.
Continue reading about The High Street Lending Model – why it sucks for contractors
Posted by John Yerou on December 10th, 2014
Many contractors believe that owning a home with only 5% deposit is impossible. Far from it. Others think that self-employed people need larger deposits than permies. Again, that’s so not true.
Using the government’s Help-to-Buy scheme, anyone can buy home in the 95% loan-to-value bracket. In English, that’s a mortgage based on you having just 5% deposit set aside.
Continue reading about Has Help-to-Buy increased mortgage likelihood for contractors?
Posted by John Yerou on November 14th, 2014
One of the biggest myths in our industry is that deposits for contractor mortgages are greater than normal. Yes, you are at an advantage if you can ‘put more down’. But you’re no more obliged to than permanent workers are.
In this article, I’ll clarify:
- Why 100% mortgages have all but disappeared;
- The minimum contractor mortgage deposit required;
- Why the more you put down, the better off you’ll be in the long run.
Ready? Here we go.
Continue reading about Do I need a bigger deposit for a contractor mortgage?
Posted by John Yerou on October 29th, 2014
Leeds is the latest lender to add contract-based mortgage underwriting to its product range. The Building Society is rolling out this outstanding addition to their portfolio in phases.
That means there will be a pilot period. During the trial the mortgages are only available through a select number of specialists. I’m over the moon that Leeds BS has chosen Freelancer Financials for the wider roll out to market.
Continue reading about Mortgage options for contractors with Leeds Building Society
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Finding a Financial Advisor who’s professional and knowledgeable is a bonus but one that you trust and feel comfortable with immediately is rarer still. I have recommended John to virtually all the other IT Contractors that I work with and will continue to use their services in the future.
Jakub Baluch.. IT Contractor
John Yerou and his team provided the brokerage service for my last 3 mortgages and I cannot rate them highly enough. No matter how large or small the request they always provide a speedy and professional response. I would never consider using another advisor/broker.
Roz Clifford.. Freelancer
We have been introducing Contractors and Freelancers to Freelancer Financials for several years now. They have established themselves as the preferred choice of financial advisors to all our IT contractors and Freelancers.
Bernie Potton.. SQ Computer Personnel (largest independent IT Recruitment Agency in the UK)
Andrew Saunders and Leanie Freed have provided an impressive service - one month from initial enquiry to completion of house purchase, with a mortgage from an established high street lender on a good interest rate. The service was clear, responsive and professionally managed throughout. Most importantly, Andrew understands the business context for contractors and this directly informs their approach to lenders
Bill Robinson.. Contractor (Management Consultant)