Skipton Building Society launched it’s new contractor mortgage policy on 25th June 2018. Skipton are one of the largest & longest running mutual building societies in the United Kingdom.
Skipton Mortgages’ previous policy saw self-employed contractors assessed in the same way as any other self-employed customers, using either an average of the last 2 years net profits. In recent times, (Since 25th June 2018) they have assessed self-employed contractors using their daily contract rate multiplied by 5 (days) multiplied by 48 (weeks).
They recognise that contractors do not represent the higher risk that other lenders would fear. This in conjunction with the fact they offer flexible & competitive rates, make them a great mortgage option for contractors.
How to qualify for a Skipton Mortgage?
Potential customers must meet the following criteria:
- Minimum two years’ experience in chosen profession.
- Minimum of 1 year’s contract history.
- Minimum income (using daily rate) of £50,000.
This is just one of a growing list of contractor mortgage lenders that Super Contractors has access to. Contact us now to find out more about Skipton Mortgages.
Gordon Hunter, Managing Director of Super Contractors, says:
“We at Super Contractors are delighted to now have access to Skipton’s contractor mortgage scheme. We are excited to add them to our panel of contractor friendly lenders. This can only bring good things for our contractor clients.”
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Your property may be repossessed if you do not keep up repayments on your mortgage.
This firm charges a fee of up to £395 for mortgage advice. The amount of fee will depend upon your circumstances and be discussed and agreed with you at the earliest opportunity.
Lifetime Finance Group Limited trading as Super Contractors is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.