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    The way we work and how we get paid by companies changes on a regular basis. With adjustments to taxation and employment law, people are always finding new ways to work as efficiently and cost effectively as possible.

    Contractors, whether in IT, nursing or building industry to mention just a few, have always had additional hurdles they must overcome when trying to obtain a mortgage for their dream home. These can include, Fixed or day rate contractors, working under an umbrella company and the CIS scheme.

    All of these pose their own issues and must be handled in a very specific way. Different lenders will expect differing levels of paperwork to support the application and some lenders still haven’t updated their lending policy to allow for this growing market. Having said that, due to the increased demand and the recognition that these applicants form a great opportunity for banks and building societies, lenders have little choice but to embrace these types of applications.

    Contractor Mortgages by Lucas Hernandez at Trinity Finance

    Quite often, when a lender changes their criteria on something as big as this, they will usually dip their toe in the water so to speak because they don’t want to be bombarded with applications that they can’t cope with and have limited experience with handling. If you think you could be affected by some of these issues and you’re interested in obtaining a mortgage either for the first time or for your next step, why not call our experienced team of growing brokers. Our wealth of experience will enable us to guide you through the ever-changing landscape of contractor mortgages.

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