Co operative Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Co operative Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Co operative Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently a media contractor, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Co operative Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a broker concerning my remortgage because I have just won a fixed term contract of four 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 five year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I purchased the property 3 years ago for £220,500 and I currently owe 120K to Co operative Bank
What criteria does a mortgage lender (for example Co operative Bank) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
Is it true that Co operative Bank quote higher interest rates in respect of mortgages for contractors?
The above information is in relation to properties in England and Wales.
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