Two contractor-friendly lenders have introduced new lending policy allowing contractors to secure a mortgage regardless of breaks between contracts.
Furness Building Society and Kensington Mortgage Company have opened their doors to clients that have taken a break, provided that they had less than 6 months out and have been back contracting for 6 months on application. Contractors with a strong track record who do not fit this criteria can still be considered.
In the past, contractors have needed a 12-24 month continuous contracting record in order to qualify for a mortgage. However, one of the major benefits of flexible working is the freedom to tak
e a break when you want, with the majority opting for a less frequent extended period of time off.
Contractors no longer need to worry about whether this choice will put them at a disadvantage when it comes to getting a mortgage.
To find out more and to discuss your options please contact us today!
Article By: Ratchelle Deary
Media Contact: Ratchelle Deary, Public Relations Manager
Tel: 01489 555 080