Accord Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Accord Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Accord Mortgages 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 regarding my remortgage because I have just won a fixed term contract of 3 years (an engineering contractor). My contract begin date earlier this year. I am looking for a three year fixed rate deal. Property worth £200,000, I want to borrow 132K. I purchased the property 3 years ago for 138K and I currently owe 165k to Accord Mortgages
What is current approach to contractor mortgages and Accord Mortgages? I am a contractor but my partner has a permanent job. Will Accord Mortgages take my salary should we make an application in both our names?
Do any sections of the CML Lender's Handbook set out the requirements for Accord Mortgages when it comes to contractor mortgages or self-employed mortgages.
Were I to advise Accord Mortgages that I’m contracting, are they likely to charge me a higher rate on my home loan?
I am lead to believe that banks and building societies mostly view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have established.
The content set out above is in relation to properties in England and Wales.
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