Competitive contractor mortgages and remortgages with Deal Direct.

The Bank of England base rate has remained at 0.25%, so what does this mean for contractor mortgages and remortgages?

Contractor mortgage rates for those with lower LTV’s have remained competitive, which is good news for the borrower. However, what if you are a contractor with a small deposit searching for your first home?  

Contractors in this position may find the reductions harder to find, particularly if you try to search by yourself. Some lenders have increased their rates for 95% LTV’s by up to half a percent. This may not sound much, but it all adds up when you need to find the money to make your repayments.

However, each lender operates by their own criteria, which means some contractor mortgage rates are unaffected. They best way of finding these and obtaining a great mortgage offer is with Deal Direct.

An unchanged base rate may help contractors, who are already homeowners, to move up the housing ladder. Remortgage rates continue at record low levels, however, the supply of adequate housing stock may be a hindrance to moving.

The first step, regardless of whether you are a buyer or homeowner, is to seek professional advice from Deal Direct.

Working with our skilled contractor specialists ensures you receive our best impartial advice. With over a decade’s experience in sourcing mortgages for those with complex needs, our knowledgeable advisers could help you obtain a very competitively priced mortgage from among the offers available across the UK.

For further details on contractor mortgage and remortgage options, call Deal Direct.

Talk to one of our experts today on 0800 048 8828.