Contractor mortgages – will 2018 bring higher rates?
What will 2018 bring for those of you working for yourselves and seeking a great-value contractor mortgage?
The good news is that, despite the rise in the base rate, some contractor mortgage rates have actually decreased.
Newcastle Intermediaries, for instance, announced a rate reduction of up to 0.21% for contractor mortgage applicants with less two years' trading history or less.
Rates are now available from 1.90% for a 2-year fix, which includes the benefit of a free standard valuation of properties up to £500,000.
Newcastle is one among many contractor mortgage providers who are using the current market conditions to reassess their offering. The reassessment means that not all rates are increasing – and, in fact, many are doing the opposite, as in Newcastle’s case.
This could be excellent news for you as, if you act quickly, you can profit from the re-evaluations and secure a mortgage rate now that may not be available come the New Year.
Deal Direct has more than 12 years’ experience in sourcing mortgages and has helped self-employed mortgage hunters like you find exactly the right loan they were looking for.
We can help you. For expert advice on contractor mortgage rates from mainstream and niche lenders UK-wide, call Deal Direct.
Click below to start your search online or call 0800 048 8828 now.
