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 have been dealing with a broker regarding my remortgage because I am on a fixed term contract of 3 years (a finacial contractor). My contract started date earlier this year. I am looking for a three year fixed rate deal. Property value £325k, I want to borrow 132K. I bought the property 3 years ago for £157,000 and I currently owe 120K to Bank of Ireland
I am an engineering contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally from Bank of Ireland. Would it be wise to contact Bank of Ireland directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and Bank of Ireland.
Does the CML Lender's Handbook set out the requirements for Bank of Ireland when it comes to contractor mortgages or self-employed mortgages.
I am well aware that the days of self-certification contractor mortgages are long gone. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Bank of Ireland
My research online suggests that banks and building societies in the main view 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 give an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Ireland