Clydesdale Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Clydesdale Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Clydesdale Bank 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 have just won a fixed term contract of 3 years (an engineering contractor). My contract begin date earlier this year. I am looking for a three year fixed rate deal. Property worth 165K, I want to borrow 132K. I bought the property four years ago for £220,500 and I currently owe 165k to Clydesdale Bank
I am a freelance contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company clarifying that I will be transferred onto a permanent contract prior to the end of my set term? Would this help my cause when applying for a mortgage with lend
Does the CML Lender's Handbook set out the requirements for Clydesdale Bank when it comes to contractor mortgages or self-employed mortgages.
I am lead to believe that mortgage lenders mostly view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have built up.
Could a contractor mortgage with Clydesdale Bank be a better option for me than a traditional Clydesdale Bank mortgage ?
The above information is in relation to properties in England and Wales.
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