Here at Hawk Mortgages, we are an independent mortgage advisor. We are contractor mortgage specialists who have an excellent track record in getting the best mortgages for self-employed workers. Since we are independent, you can be sure that any deals we bring to you will be the best we can find for you – and not for the mortgage companies.

Recently we were able to arrange a remortgage for a married couple who wanted to release equity from their home to purchase a Buy To Let Property. Contractor mortgages can be a complicated issue; some mortgage brokers are not equipped to find the best contractor mortgage rates and may have an inaccurate view of what clients need. Luckily, we know precisely what to do in these situations.

The couple were an IT Contractor and a Teacher based in Reading. We had a very instructive telephone meeting with them where we discussed their options. Contractor mortgages can be tricky, as incomes can vary, but our client’s current contract was giving him an excellent daily rate, and so we were able to maximise the equity the clients could release. This meant they would be able to secure a buy to let property of decent value which would ensure that they had a respectable income.

They are still looking for the property they wish to buy, so we arranged an offset mortgage for them. An offset mortgage means that our clients will not be required to pay interest for the equity released from their home until they are ready to use it. This will give them more time to find the perfect property and will ensure that they have the confidence to refuse properties that do not meet their standards. In turn, this will most likely mean that they have a better income in the long run.