Britannia Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Britannia offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Britannia and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 75k contractor mortgage with a lender such as Britannia?
Does the CML Lender's Handbook stipulate the requirements for Britannia when it comes to contractor mortgages or self-employed mortgages.
I am finding the process of looking for a contractor mortgage extremely frustrating. There doesn't seem to be many 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.
As a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Britannia even grant mortgages to contactors ?
My research online suggests that mortgage lenders mostly view contractors as high risk applicants; so demand 3 years’ accounts to validate 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 maximising 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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