PCG joins forces with ContractorFinancials

The Professional Contractorís Group (PCG) has joined forces with financial advisors, ContractorFinancials, to provide financial advice and secure mortgage deals tailored for PCG members.

The initiative comes as PCG recognises the difficulties that many self-employed professionals are faced with when buying a property. The new service from PCG and ContractorFinancials will mean that members will not be charged a broker fee, will receive a competitive mortgage rate and will also have the benefit of a dedicated adviser to support them through the process.

Commenting on the initiative, PCGís CEO, John Thomas said: ìOne in seven workers in the UK today is self-employed. It is a growing trend and one that is set to continue as an increasing number of organisations are recognising the value of freelancers - a highly mobile, highly skilled and highly flexible 21st century workforce. Itís about time that freelancing is recognised as a career choice with real earning power and mortgage lenders should wake up and address their needs. We are pleased to be working in partnership with ContractorFinancials; over 95% of their clients are freelancers so they clearly understand the financial intricacies of self-employment and we value the support they will give to our members.î

Tony Harris, Managing Director of ContractorFinancials said: ìMost freelancers will have a horror story or two to tell about the hassles they have had trying to arrange a mortgage. Itís all too easy to obtain an íonline agreement in principleí only to find that, after a nerve wracking two weeks wait, youíre rejected when the underwriter realises you are not a permanent employee or asks you to show accounts. We have worked closely with many of the big high street lenders to negotiate income verification based on an annualised multiple of the current contract rate alone, removing the need to use accounts and overcoming one of the biggest hurdles that freelancers face. This way, freelancers can avoid expensive non-status schemes and enjoy the same high street interest rates that a permanent employee can.î