Finance can be a confusing world and as we well know at expert pension claims if you do not receive expert advice from an experienced adviser you can find yourself in hot water later down the line. This is not true just for pensions and investment advice with every financial decisions there can be consequences if you were to follow incompetent advice.
A mortgage is probably the largest financial commitment many people will ever have and receiving the correct advice is paramount to getting the best deal that suits your needs. Getting the right deal and having a mortgage that meets your circumstances can have affects such as being able to sustainably afford your repayments paying off your loan in line with your retirement goals and so on.
Getting correct mortgage advice can became even more complex if you do not fit into the standard criteria of many mortgage lenders. One example of this is company directors the self-employed and contractors throughout the UK. As mortgage lenders see different types of employment with additional associated risks it is important that if you fall into one of these employment types you instruct a mortgage broker who has experience in the area you require.
This is especially true with contractors as this type of employment is on the rise across the UK offering companies a different and flexible model to employ high quality talent that they need for a prescribed length of time. Over the years contractors have received miss leading and incorrect advice from some brokers when it comes to restrictions in getting a mortgage approved. Although how much you can borrow is calculated differently and verification differs slightly form your normal mortgage application you still could be eligible for a mortgage from a high street lender.
Finding a specialist contractor mortgage broker can be simple and because of increased need there is now companies that soley specialize in mortgages for this type of employment.
When you instruct any type of financial professional you need to make sure that they are regulated by the FCA and hold relevant qualifications you can complete this due diligence by asking your mortgage broker for proof and checking their credentials on the financial services register.