How to Register with HMRC – Self Employed

This article is all about working for yourself and how to register with HM Revenue & Customs. I’ll tell you when, how and why you tell HMRC you’ve started working for yourself. So when do you tell HMRC that you’ve started in business? The date you start in business will be: the date you actively […]

Help-to-Buy Mortgages for Freelancers and Contractors

The Help to Buy Scheme, launched back in April 2013 has given the UK property market a massive boost and helped thousands of people get into the property market for the first time. The government provides first time borrowers with a 20% contribution towards their deposit on top of a minimum equity deposit of 5% from the borrower. This allows borrowers to put down 25% deposit on properties and gives lenders more incentive to provide more mortgages, knowing that the government is backing 20% of the loan. Contractors looking to buy their first home should take advantage of the scheme but once again, it is important to do so through a specialist contractor mortgage broker in order to ensure everything runs smoothly. Our Help to Buy guides show how to do exactly that.

A Self-Employed Contractor’s Solution to Mortgage Rejection

Here at Contractor Guides we advocate a ‘prevention over cure’ approach for contractors applying for mortgages but if you have applied for mortgages in the past and been turned down, don’t despair! We have put together a guide that explains exactly what you need to do next and a step-by-step approach to making sure it never happens again. From working out where the application broke down to choosing mortgages and mortgage brokers who can repair your credit file, your mortgage application and get you your first home, we cover every aspect of the application process.

WHY DO CONTRACTORS NEED A SPECIALIST MORTGAGE?

Contractors have not had much luck over the years when it comes to regular high street mortgages. The over-simplified division of workers into self-employed and employed fell harshly on contractors who were classified as both and therefore not properly eligible as either. The new specialist contractor mortgages neatly sidestep this problem by utilizing bespoke mortgage underwriting and assessing contractors on the basis of more relevant criteria such as annualized rates of income and their working history as a contractor. Our guides will help explain all the benefits of specialist mortgages for contractors.

How to get a Mortgage

4 Tips To Help Contractors Get A Mortgage

Just because some banks and lenders are now offering specialist contractor mortgages, that doesn’t mean you will automatically be welcomed with open arms. We outline five essential things you need to know about applying for a specialist mortgage, from how to get your credit in shape and how to find a specialist contractor mortgage broker to organizing your finances correctly pre-application and correctly filling out the application itself. Everything you need to get that mortgage!

Employers Liability Insurance for Contractors

Unlike the other insurances mentioned here, Employers Liability Insurance is not necessarily something every contractor will need. Most contractors work freelance and work alone, so it is unlikely they will be employing many, if any staff. Consequently they would not have any need for Employers Liability Insurance. However, should a contractor find that their contracting […]

Public Liability Insurance for Contractors

As with most other businesses, a contractor will invariably deal with the public at some point in their day to day activities. This might be a simple interaction with someone, or it might be someone coming to visit you at your place of business. Either way, if something happens that causes injury or damages to […]

Professional Indemnity Insurance for Contractors

Contractors, like any other business owner, have to cover their backs against legal action taken against them as a result of them performing their professional duties. Professional Indemnity Insurance is therefore one of the most important types of insurance your business (or you as a contractor) can invest in. It is not just important to […]

The insider’s guide to contractor mortgage lending criteria

There are now a number of new specialist mortgage products on the market but they are still few and far between. And some of the larger banks offer a type of contractor mortgage but in turn make the criteria for approval ridiculously difficult. Here at Contractor Guides we have a regularly updated page dedicated to the latest contractor mortgage products to come onto the market and comparing the interest rates, charges and types of mortgage on offer.

Tips for Freelancers and Contractors Applying for a Mortgage

Just because some banks and lenders are now offering specialist contractor mortgages, that doesn’t mean you will automatically be welcomed with open arms. We outline five essential things you need to know about applying for a specialist mortgage, from how to get your credit in shape and how to find a specialist contractor mortgage broker to organizing your finances correctly pre-application and correctly filling out the application itself. Everything you need to get that mortgage!