First Time Buyer employed as a contractor

A client approached Holbrook Property Finance after other mortgage brokers were not able to assist her. She was a first time buyer, employed as a contractor.

Due to the nature of a contractor’s role, a number of lenders class contractors as “self-employed”. Their limited understanding of the contracting marketplace impacts their ability to accurately assess a contractor’s income and other supporting documents.

I used my wide network of professional contacts and was soon able to identify a suitable lender who was happy to use my client’s current employment contract as proof of income when assessing the application. My client was not only able to get a mortgage but it was a much higher amount than she had thought was possible. As a consequence, she was delighted to be able to purchase a much larger property.

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Stephen Baldwin – Senior Financial Consultant