Aldermore Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Aldermore Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Aldermore Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Aldermore Bank in his name using our joint deposit and for me to be added at a later date?
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All documents done and sent. Received a call from the lender to say they can't move ahead with process unless my current manager issues a letter saying my contract will definitely be prolonged and when new end date will be. Any thoughts?
I am finding the process of trying to obtain a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Is it correct that that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Aldermore Bank.
My research online suggests 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 broker specialising in contractor mortgages persuade lenders such as Aldermore Bank to offer funds on the more realistic basis of my contracted rate.
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