London based IT contractor mortgages.
Obtaining a contractor mortgage if you are based in London and work in IT, should, in theory, be easier when compared to other locations in the UK. However, this doesn’t always prove to be true.
London is one of the world’s central hubs for commerce and finance, and the potential opportunity that exists for contractors is enormous. However, so are the house prices, and this is where you may find your mortgage approval becomes troublesome.
Potential lenders need to understand three things:
- The way you work.
- The level of demand for your skills.
- The full value of your earnings.
The lenders that don’t have this depth of understanding, and there are many out there, take a more standard approach to underwriting loans. Consequently, they may well reject when they are presented with an application that doesn’t fit their model.
At Deal Direct, we have forged relationships with lenders who underwrite on a case by case basis. They have the authority to take factors into account, and act on them, that other lenders would overlook. We fight your corner, they trust our judgement, and the possibility of your mortgage being approved first time, increases.
For further details on which lender could be offering exactly the right contractor mortgage for you, speak to a Deal Direct adviser.
Call us now on 0800 048 8828.
