subject: What To Expect With It Contractor Mortgages [print this page] As most IT contractors are well aware, securing an IT contractor mortgages tor is no easy task. First of all, many mortgage providers are prejudiced against freelancers and contractors, often requiring up to 3 years accounts before even considering any transactions with them. This alone is enough to discourage most IT contractors, but with the help of contractor mortgage specialists, many IT contractors stand a much better chance of obtaining the appropriate IT contractor mortgage.
A well know fact is that, Information Technology is a very fast paced industry that changes and shifts between trends and new technology. Due to its ever changing nature, most IT contractors specialise and perform best on short-term contracts rather than on longer term, more regular tasks and projects. This has proven both beneficial and detrimental to IT contractors, as although they are able to dictate and control the rate of pay for the services they provide, they are however restricted to the amount of time they are needed by any company contracting them; this therefore creates detrimental "short-term employment records", which are considered oh so useless and undesirable by lenders.
Due to the difficulty of securing IT contractor mortgages, seeking out a reputable contractor mortgage specialist is highly recommended. They can really help IT contractors to get the mortgage they need, due in no small part to having special relationships with specific lenders. Find the contractor mortgage specialist that can leverage vastly different methods to secure the right mortgage, and from the most appropriate lender. Once one gets the help of an IT contactor mortgage specialist like this, one can expect to have the cooperation of the banks. Indeed in most cases the very same banks that refuse to help contractors with their IT contractor mortgage needs!
Another thing to expect is for one of the specialist mortgage advisors from real contractor mortgage specialist firms authorised and regulated by the FSA, to call and discuss the individual IT contractor's employment history. This is in order gain a real insight into each IT contractor's employment history, which in turn enables them to bring their expertise to the table when the specific employment history of any individual IT contractor is discussed with each bank, so increasing the chances of more potential IT contractor mortgage offers from lenders.
In any case, it is imperative to be well prepared when trying to find IT contractor mortgage specialists, always making sure all the proper documentation is ready. It also helps to prepare a file with all the expected information to hand in order to facilitate things for both advisors and lenders. With the help of a reliable contractor mortgage specialist, most IT contractors will be able to access those illusive IT contractor mortgages. IT contractor mortgages may be hard to obtain, but nothing is impossible with the right contractor mortgage specialist.
