2018 contractor mortgage challenge as house prices creep up.

Sourcing the right contractor mortgage that matches your requirements can be a challenge at the best of times. And now, according to statistics published by the ONS, house prices are beginning to creep up making the task of finding an affordable loan even more important.

The statistics demonstrate that the average house price in the UK today has risen by £16,000 to £227,000 since this time last year.


The most expensive average house prices are as follows:

  • London - £484,000
  • South East - £322,000
  • East of England - £290,000

The cheapest average house price is £131,000, which is to be found in the North East of England.

Contract values, lengths of contract, rates commanded and payment terms vary among contractors depending on the type of work they are doing and where they are located.  As a number of different factors affect your income, it is vitally important to seek qualified guidance when it comes to determining mortgage affordability – and this is where Deal Direct can offer the maximum support.

With our expert assistance, you can access contractor mortgages from lenders who fully understand how you work and cater to your needs. Lending criteria is deliberately designed to be flexible and mortgage rates attractive to assist your journey either on to or up the housing ladder.

For more details on UK contractor mortgages, contact Deal Direct on 0800 048 8828.   

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Article published: Tuesday, February 27, 2018
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