Oil & gas contractor mortgages made easy.

The labour market is changing, according to the Office for National Statistics there are now over 1.5 million contractors in the UK.

While contracting may be the way forward for many individuals and contractor numbers are increasing, mortgage lending criteria is not evolving to keep up with market changes.

In the UK contractors can have a hard enough time being approved for a mortgage, contractors based overseas for much of the year face even more challenges.

If you are an oil and gas contractor and your job takes you to far flung locations for months at a time, finding the right mortgage can prove complex.

High street lenders like straightforward applications and as an overseas contractor your application is unlikely to fit their requirements. They are likely to consider you a high risk for a mortgage and are unlikely to approve you.

Applications for contractors most commonly fail because of factors such as the inability to provide 3 years accounts, the inability to prove income and changing income.

The advice is therefore to search for lenders whose underwriters consider oil and gas contractors in a more favourable light.

With the time that is involved in making a search you are recommended to contract the services of a broker who can make a specialised search on your behalf.

Finding the mortgage you need.

At Deal Direct we work with mortgage providers who understand the world of the contractor, whose underwriters calculate mortgage affordability on your contract rate.

Our lenders do not look upon you as higher risk because you do not have a permanent position. They understand the value of the skills you have and the demand for your services.

Why choose Deal Direct to find you a mortgage?

• We have experience achieving mortgage approval for applicants whose circumstances do not fit regular lending criteria.
• We put forward your application in as favourable light as possible.
• We know which lenders to contact to get you the mortgage you need to buy a home or remortgage.
• We are with you through every stage of the application.
• We know the pitfalls you can face and help you to avoid them.
• We can help you find a mortgage based on your contract rate.
• Our advice is independent and specific to your needs.
• We can find you a low rate offer regardless of your status as a contractor.

If you are overseas and want to look for a mortgage a call to one of our Deal Direct advisers can get the mortgage ball rolling.

We do everything on your behalf to make the mortgage search and application process as simple and stress free as possible.

We know you are busy and so we take the hassle out of the looking for and applying for a mortgage.

To speak to a specialist adviser to discuss your mortgage needs call us today.

Call for free advice 0800 048 8828.