"I'm a contractor. Can I get a mortgage?"

They say that there is going to be a huge change in the working patterns of our children. Whilst you as parents will be extoling the virtues of the fact that you have stayed in the same profession all your life and worked with a handful of employers, they will be flitting from one job to the next and one career to the next without a moments hesitation. There are stats out there that say that the next generation will on average have 15 - 20 jobs and several different careers before they retire. A bit difficult for the oldies to get their heads around that concept I grant you and what about a mortgage? How are they going to get a mortgage dotting about from one job to the next?

Never fear! The lending market whilst a bit like a super tanker trying to change direction, is slowly coming around to the realisation that times they are a changin' and putting in place products that suit the working patterns of the contractor. It's not shooty in though.

There are a number of stipulations

• You will need to demonstrate that you have a contract in place.

• The type of work that you do must have an element of continuity - not a one off.

• New contractors are acceptable but you will need to demonstrate a long term contract is in place.

• Your income must be able to be verified and be able to be annualised.

As long as you can tick these boxes then you are over the initial hurdle of putting in place a mortgage for your purchase. If you would like to discuss any aspect of trying to get a mortgage then just get in touch -

jonathanwilliams@begleybrown.co.uk