Bank of Ireland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Ireland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Ireland and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently an IT contractor, 12 months into a two contract. the chances of me being moved onto an employed basis are slim. So I suppose my query is, will Bank of Ireland even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am finding the process of looking for a contractor mortgage extremely 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.
Even though I am a contractor (HR consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the vetting process for Bank of Ireland.I am not convinced that my broker is correct.
I am lead to believe that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Bank of Ireland.
I don't know whether Bank of Ireland are in the business of issuing contractor mortgages but in the event that they do how does a Bank of Ireland contractor mortgage differ from a standard home loan?
The content set out above covers to properties in England and Wales.
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