Penbourne believe that working as a contractor should not prevent you from getting a competitive mortgage product. With this in mind, we have aligned with a specialist mortgage broker. They can help you to secure a mortgage based on your full contract earnings, without the frustrations that could arise if you approach your bank directly.
Many high street lenders do not understand the complexities when it comes to a contractor’s remuneration structure and will quite simply ignore any area of income that does not fit in neatly with their process. This results in a large amount of your earnings being overlooked when the lender assesses affordability for a mortgage and the consequence of this is usually an adverse lending decision.
Our associates are able to help contractors to avoid this by engaging with the lenders upfront. They work closely with many lenders who have an understanding and flexible approach to accommodating contractors’ full contract earnings. This ultimately helps to secure a competitive high street mortgage at the same rate that is available to permanent workers.
They have a team of experienced mortgage consultants at hand to offer completely impartial advice, which is sourced from the whole of the market.