Many lenders do not accept income based on a contract.

What are the issues?

  • Lender’s not accepting how contractors pay themselves and not accepting that the lending can be assessed on the day rate.
  • How long you need to be contacting for.
  • Mortgage brokers who themselves do not fully understand all the different lenders various criteria.

Why use Instant Mortgages?

At Instant Mortgages Ltd we have been working with all the major lenders for years. As a result we have built up relationships with the lenders and underwriters and we fully understand what is possible and what is not.

How we will work with you.

  • We will fully explain to you which lenders are available to you and what their individual criteria are.
  • A Decision In Principles (DIP) will be processed for you based on the income figures that the selected lender will accept.
  • As we have sourced the correct lender for you we do not waste your time going from lender to lender.
  • We will fully package your application for the lender giving them all they need to establish if they can lend.
  • We will make the process as smooth and pain free as possible for you, we do the hard work.

So if you are a contractor and you want to engage with a mortgage broker that understands YOU then look no further.

Your home may be repossessed if you do not keep up repayments on your mortgage. Your existing lender may require an early repayment charge if you remortgage. Think carefully before securing other debts against your home. When consolidating debts the new mortgage may have a longer repayment term and therefore increase the total amount payable.

We charge a fee of £250 for mortgages over £150,000 / £500 for mortgages between £75,000 and £150,000 and £750 for mortgages under £75,000. We only charge if we are successful in obtaining a mortgage offer for you and our fee is payable on receipt of that mortgage offer.