Halifax bank is one of the most flexible and contractor friendly mortgage lender. They determine your mortgage affordability based on your daily rate.
Banks and Mortgage Lenders were very rigid during the early days of contractor mortgages. Contractors had to prove their mortgage affordability by providing a minimum of one years’ accounts, and the banks then assessed the affordability through salary and dividend drawings.
Halifax entered the contractor mortgage marketplace and made it easier for contractors to secure a mortgage. They started offering contract based underwriting to contractors. This is why, there are seen as one of the most flexible contractor mortgages lenders.
They’re the preferred choice for contractors who are new to contracting. Not only they’re flexible, but they’re also very fast when it comes to processing mortgage applications for contractors.
One of the products Halifax launched recently for contractors is.
Halifax has also launched 95% Help To Buy Mortgage Scheme for Contractors with deposit as low as 5%, which is government backed and, open for both; first time buyers as well as next time buyers. Not only this, Halifax is also offering fee free mortgage valuation on contractor mortgages.
You cannot own any other property to qualify for this Government backed Help To Buy scheme, and the property you wish to buy should not exceed £600,000. Plus, the property should be at least 2 years old and cannot be a new-build.
If you would like to find out more on Halifax Contractor Mortgages then, please feel in our request a call-back form on the top or click here . We work closely with Halifax and can help you with your mortgage application.