John Yerou Specialist Mortgage Blog

Why dealing with High St lenders direct can sink contractors

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

men in life raft picking up survivors of sinking shipYou may well be familiar with this story. High Street lenders have already deeply scarred most contractors and freelancers by the time they reach us.

Often, inept in-branch advisors unwittingly inflict those wounds.

Their weapon of choice? Failed credit searches! Failed searches leave ugly footprints across your credit file.

When lenders carry out such a search based on your application criteria and go on to turn you down, it leaves a blot on your copy book. And one for all to see thereafter!Continue reading »Why dealing with High St lenders direct can sink contractors

5 Essentials Contractors Can’t Ignore for Getting a Mortgage

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

Mortgage approvedYou can make getting a mortgage as a self-employed contractor as hard or as easy as you’d like. Go the traditional High Street route and you’re in for a hard, dissatisfying slog. But find a contractor specialist broker? Your hardest job will be choosing matching curtains and carpet.

Continue reading »5 Essentials Contractors Can’t Ignore for Getting a Mortgage

Get a mortgage that can use your top line contract rate!

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

IT ConsultantIt’s thanks to the IT crowd that bespoke mortgages for contractors exist. As banking systems digitalised, banks outsourced specialists to update their systems.

What these banks discovered was that:

  1. IT professionals capable of rebuilding their digital ecosystem from the ground up earned big money;
  2. despite that high income, banks had little in place to accommodate an IT contractor’s mortgage needs.

Continue reading »Get a mortgage that can use your top line contract rate!

Rise in BoE Base Rate – Good or Bad for Borrowers?

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

Higher RatesThe six-year holiday is officially over. Earlier this year, Mark Carney, BoE Governor, forewarned banks that the base rate would rise. He said before the end of the year, but many predicted sooner rather than later. That sooner is imminent, as the cheap mortgage looks set to disappear from the High Street.

Already, Barclays and Santander plan to up their interest rates on any new mortgages. Other lenders will follow suit. But the form that the ‘domino effect’ on mortgage interest rate increases will take may differ.Continue reading »Rise in BoE Base Rate – Good or Bad for Borrowers?

Why specialist contractor mortgage brokers trump the High St

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

mortgage approvedJust when you thought discrimination was a thing of the past, you happen upon your High Street bank looking for a mortgage. You present your credentials as a contractor. The adviser’s eyes ignite when they see your day rate.

Continue reading »Why specialist contractor mortgage brokers trump the High St

Does your income protection cover your contractor lifestyle?

Posted by John Yerou on in John Yerou Specialist Mortgage Blog

Our friends over at IPSE commissioned Kingston University to research the country’s self-employed. As expected, numbers are growing, with results showing an independent UK workforce of almost 2M. It’s safe to say, contractors and freelancers are now essential to the overall job market.

Continue reading »Does your income protection cover your contractor lifestyle?

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