Accord Buy to Let Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Accord Buy to Let offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Accord Buy to Let and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have retained a broker concerning my remortgage because I have just won a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date last year. I am seeking a five year fixed rate deal. Property worth 165K, I want to borrow 132K. I bought the property 3 years ago for 138K and I currently owe 115k to Accord Buy to Let
I am an IT contractor looking to buy a home in Bedford. My next step is to secure a mortgage preferably from Accord Buy to Let. Should I contact Accord Buy to Let directly or seek the assistance of a contractor specialist mortgage broker who is used to dealing with contractors and Accord Buy to Let.
As contractor looking for a mortgage with Accord Buy to Let will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
How can I make myself more attractive to a lender such as Accord Buy to Let when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that mortgage lenders in the main consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Accord Buy to Let to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Accord Buy to Let