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.
Do any sections of the CML Lender's Handbook set out the requirements for Britannia when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Britannia will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and submitted. Received communication from the lender to say they can't move ahead with application unless my current manager writes me a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
How can I make myself more attractive to a lender such as Britannia when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
The above information is in relation to properties in England and Wales.
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