Commercial Mortgage Services:
- Mortgages for the self-employed
- Mortgages for portfolio Landlords
- Mortgages for Company Directors
- Commercial property management and business planning
- Bad/adverse credit history - for those who have de-faulted on previous payments or who have cannot demonstrate a good credit history
Self-employed /short term and temporary contract workers
Many people in certain occupations, like IT, construction or seasonal work are only provided with short term contracts and so it is not always possible to show long term earnings in these types of roles.
A mortgage provider needs evidence that you are unlikely to default on payments and so a regular income, regardless of source is the most important factor in securing a mortgage.
The way to get round these difficulties is, regardless of contract or occupation, is to keep all PAYE/proof of earnings slips and/or P60 tax records for all work that you have been in for at least the last three years.
At Brighter we are not put off by a client’s short term/temporary contract situation. After all, they are common-place these days. As long as you have evidence of earnings, we can help you to secure a mortgage and a home of your own.
How we will work with you to help buy your property
We know that it can be stressful buying your home and we want to make it as easy as possible for you. That’s why at Brighter our independent mortgage and insurance advisers will work tirelessly to search a diverse range of products across the market to get the right one for you.
Our advisers can do this as they are independent and are not tied to any single product.
They are also skilled and have experience of dealing with clients with varying needs. Take bad or adverse credit for example. Not so easy to always get the best deal for yourself when you have a poor credit history or have defaulted on mortgage repayments, but at Brighter you will be treated like any other client and we won’t stop working until we secure a deal for you that works.
- We will make sure you understand our charges which are £395 for the arrangement of a mortgage with £100 discount if you also take out an insurance product.
- We will gain an understanding of your credit history and carry out a fact finding process so that we have all the details about your income and expenditure so that we can help you quickly and effectively.
- We will carry out research to get the right deal for you which will be right for you and your finances.
- We will work to get you a Decision in Principle(DIP) about your mortgage as fast as we can.
- We will work with any 3rd parties who are involved in the sale or purchase of property, so that you secure the mortgage as fast as is reasonably practical.
- We will provide "after-care" to ensure that you are satisfied with our service and that the arrangements for your mortgage are to your satisfaction.
We will assess affordability
Looking at a mortgage re-payment and determining whether it is something you are willing to pay, is not necessarily something you can actually pay.
We will look at how you can afford a mortgage by taking account of your current outgoings, including your credit card payments and liabilities as-well as your lifestyle. The information we gather will help guide you on affordability for your mortgage loan.
We would advise that you access a credit report via a reputable credit scoring company and can advise on this process.
We will assess your borrowing requirements
We would look at your affordability and other factors but try and source a lender that will offer at least 4 times your income.
We would always urge you to put down as large a deposit as you can afford, whilst supporting those clients who can only afford a 5% deposit. It all depends on your circumstances and we will work within these.
We will ensure that, depending on the deal, that you can still afford the deal if interest rates go up.