Finance companies that are happy to deal with contractors?

Just wondering if anyone has had good experience with brokers or actual companies that make it easier for IT contractors to jump through the hoops and get loans approved ?

I've been bashing my head against the doors of the big 4 and a few smaller brokers with no luck.

Cheers
Graeme

 

A quality mortgage broker with independence from a major is an essential.

 

If you're shopping every bank, you're going to trash your credit score.

IT contractors have very little trouble getting finance with most lenders as long as they've been consistently employed. I've had clients who have gone from one 3 or 6 month contract to another have little trouble getting finance, as long as they don't have an extended period of unemployment between contracts.

The easiest way to show consistent employment is retain copies of your employment contracts and group certificates. Lenders will often ask for these types of documents for full time employees.

 

Questions:

1. Are you getting paid as a PAYG or to your ABN?
2. Is the LVR over or under 80%?