Better HomeOwnership Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Better HomeOwnership offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Better HomeOwnership 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 mortgage adviser regarding my remortgage because I am on a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am looking for a three year fixed rate deal. Property value £325k, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 165k to Better HomeOwnership
What criteria does a mortgage lender (for example Better HomeOwnership) use to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and submitted. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
My wife and I are soon to submit for our first mortgage application with Better HomeOwnership. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Better HomeOwnership in my wife’s sole name?
Is it true that Better HomeOwnership quote higher interest rates in respect of mortgages for contractors?
The content set out above covers to properties in England and Wales.
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