Author name: ContRacto@usesr

If you’re a contractor looking to move to a new property, you may have heard the term “porting”. But what does it mean, and how does it work? In this article, we’ll dive into the process of porting you mortgage and why it can be beneficial for homeowners. What is Porting? Porting a mortgage is […]

Contractors often have concerns about their eligibility for a mortgage when working through an Umbrella company. While it’s entirely possible to secure a mortgage as an umbrella contractor, several factors can influence both the likelihood of approval and the terms offered. It’s essential to grasp how banks differentiate between employees and umbrella contractors. Contractors typically

The Bank of England maintained interest rates at 5.25% for the sixth consecutive time today.   The decision is thought to have been  influenced by the fact that inflation, which measures the gradual increase in prices, remains above the Bank’s target of 2%, currently standing at 3.2%. In addition to the interest rate decision, the

The concise response is that the impact of your debts on your overall financial situation plays a significant role in determining your eligibility for a mortgage. Mortgage lenders primarily seek assurance that you can comfortably afford your mortgage payments and that you consistently make them on time. Consequently, having certain types of debt that you

When obtaining a mortgage, it is important to understand the various terminologies associated with mortgage products. These terminologies include mortgage types, repayment types, and product types, all of which play a significant role in determining the terms and conditions of your mortgage. Familiarising yourself with these terms will help you navigate the mortgage process more

Are you embarking on a house viewing? It’s crucial to approach this task with a discerning eye, as there are numerous factors to consider. The process can be overwhelming, and it’s easy to overlook potential issues that may arise later on. To help you navigate this endeavour, we’ve provided us with a comprehensive guide on

Irrespective of your current stage in the property journey, the process of moving homes can often be overwhelming. From locating the perfect property to listing your current home on the market, obtaining a mortgage, coordinating with surveyors, and liaising with conveyancers, there are numerous steps to tackle well in advance of your moving day. It

Remortgaging your home presents an opportunity to save on interest payments and access additional features. Whether you’re seeking a more affordable interest rate, the ability to make overpayments without penalty fees, or the need to switch mortgage types, remortgaging may be the ideal solution for you. In this article, we delve into the key reasons

Remortgaging is a process that involves settling the remaining balance on your property’s existing mortgage by obtaining a new mortgage. The advantages of remortgaging as a contractor include the potential to lower your monthly payments, secure a more favourable interest rate, and shorten the repayment period. It can also be a viable option if you