IT Contractor Mortgages - Huntingdon

Introduction to IT Contractor Mortgages

For individuals working as independent IT contractors, securing a mortgage can present unique challenges. Traditional lenders often require extensive employment history and consistent income, which can be difficult to demonstrate for self-employed professionals. However, IT Contractor Mortgages are specifically designed to cater to the needs of this growing segment of the workforce. They recognize the distinct financial landscape of IT contractors and offer tailored solutions.

What are IT Contractor Mortgages

IT Contractor Mortgages are a specialized type of mortgage product designed to assist IT professionals and other self-employed individuals in purchasing a property. Unlike standard mortgages that rely on salary statements, these loans consider a wider range of income sources, including business profits, consultancy fees, and freelance earnings. The process focuses on assessing the borrower’s creditworthiness and ability to repay the loan, rather than solely on traditional employment verification. These mortgages typically require more detailed financial information, such as tax returns, business accounts, and profit and loss statements, but the goal is to provide fair and accessible access to homeownership.

Location and Contact Details

Address: 24 High St, Huntingdon PE29 3TA, United Kingdom.

Phone: 1480573110.

Website: (Currently, no website is available, but online appointments are offered)

Specialties and Services Offered

This firm specializes in Mortgage Broker services, specifically focusing on IT Contractor Mortgages. They possess in-depth knowledge of the specific requirements and lending criteria associated with self-employed borrowers. Their services include:

• Mortgage Advice: Providing expert guidance on the most suitable mortgage products based on individual circumstances.
• Application Assistance: Streamlining the mortgage application process and ensuring all required documentation is submitted accurately.
• Lender Relationship Management: Maintaining strong relationships with a wide network of lenders to secure competitive interest rates and terms.
• Remortgaging Services: Assisting clients in refinancing their existing mortgages to take advantage of better rates or release equity.
• Equity Release Advice: Offering advice on utilizing equity in a property for personal investments or other financial needs.

Key Features of IT Contractor Mortgages

Several key features distinguish IT Contractor Mortgages from conventional loans:

• Flexibility in Income Assessment: Acceptance of diverse income streams beyond traditional salary.
• Higher Lending Criteria: Often require a larger deposit and a lower loan-to-value (LTV) ratio compared to standard mortgages.
• More Detailed Documentation: Requires comprehensive financial records, including tax returns and business accounts.
• Shorter Lending History Requirements: Can be more lenient with the length of a borrower’s self-employment history.
• Potential for Higher Interest Rates: Due to the perceived higher risk, IT Contractor Mortgages may sometimes carry slightly higher interest rates, although this is becoming less prevalent as the market matures.

Client Testimonials & Reputation

The company enjoys a strong reputation, evidenced by positive customer feedback. Average opinion: 4.4/5. Clients consistently praise the team’s expertise, dedication, and ability to navigate the complexities of the mortgage application process. One client stated, “We have now completed on all 3 properties, it would not have been without Corey’s expert advice and knowledge in the market.” Another client highlighted the team’s coordination with solicitors and lenders, stating, “I would also like to thank Amber for her dedication and coordination with the solicitors and lenders.” The firm’s commitment to personalized service and proactive communication contributes significantly to its positive standing within the industry. It’s clear that the company prioritizes client satisfaction and strives to deliver exceptional results. The ability to offer Online appointments, along with On-site services and a Wheelchair-accessible car park, demonstrates a commitment to accessibility and convenience for all clients. Appointment required for all services.

Recommended Information for Prospective Borrowers

Individuals considering an IT Contractor Mortgage should be prepared to provide the following information:

• Business Accounts: Bank statements and profit and loss statements for the past 3-5 years.
• Tax Returns: Self-assessment tax returns for the past 3-5 years.
• Proof of Income: Detailed breakdown of all income sources, including consultancy fees, freelance earnings, and any other business revenue.
• Credit Report: A copy of your credit report to demonstrate your credit history.
• Deposit Information: Details of any deposit you have saved for the property purchase.

It's highly recommended to schedule a consultation with a qualified mortgage broker to discuss your specific circumstances and explore the available options. This firm, located at 24 High St, Huntingdon PE29 3TA, is well-equipped to guide you through the process and secure the most favorable mortgage terms.

👍 Reviews of IT Contractor Mortgages

Anniesharon C.

5/5

We have now completed on all 3 properties, it would not have been without Corey's expert advice and knowledge in the market. When other mortgage brokers refused to do 2 remortgages to release equity for a residential property, only Corey was confident that it was possible. I would also like to thank Amber for her dedication and coordination with the solicitors and lenders.

I really cannot thank you enough as we are on our way to collect the keys. I will speak to them again in couple of years time for remortgaging and will definitely be recommending you guys.

Shelley W.

5/5

Thanks so much to Corey Whelan for helping us to get a Mortgage. We’re self employed and it’s our first property, so understandably we were nervous, but Corey guided us through every step. We immediately felt at ease when we talked to him. Having talked to other brokers in the past, Corey knows exactly what he is doing. We would definitely recommend him and use him again in the future,
David and Louise Pegram

Amy L.

5/5

We were told by another broker after he applied to three different lenders that we wouldn't be able to get a mortgage on our property because a significant portion was constructed in single brick. We knew about this structural issue and we were planning to rebuild that part of the house anyway but it looked like we weren't going to be able to get a mortgage. We had just about given up hope when we found Cambridgeshire Money and spoke to Liam. He was excellent - managed to find us a specialist lender who gave us a mortgage on the property and we just completed last week! I still can't quite believe it. Thank you so much Liam for everything you did - we absolutely love our new home and can't wait to start the renovations!!

Stephen G.

1/5

Very poor advice! Applied for a let to buy mortgage and was nearly made homeless through the companies poor direction and advice. I had our tenants sign up to a 2 year AST only to be told "afterwards" by Cambs Money that the mortgage company only accept up to 1 year. So no mortgage and having signed a contract with our new tenants we had to leave our home! Despite the promise that the credit search would be soft its left a huge footprint on my previously perfect credit score! The journey with Cambs Money has been a very stressful costly one totally unprofessional and no real remorse from them when I officially complained. Now taking this to the Financial Ombudsman.

George P.

5/5

Corey Whelan was a fantastic professional that has provided me with the best possible advise. He was always responsive and he was always proposing the best options. Amid COVID-19, the execution and completion were speedy and at very affordable prices. Highly recommended and 100% likely to use again the excellent services.

jijo I. (.

5/5

Corey Whelan is a very experienced dedicated professional man who helped me .
His service and support is fantastic

Steve W.

5/5

Corey and the team run a very professional setup always keeping you in the loop with any financial service you require I can't recommend them highly enough