Coutts Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Coutts Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Coutts Finance and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have retained an IFA regarding my remortgage because I am on a fixed term contract of two years (a finacial contractor). My contract started date this year. I am looking for a five year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I purchased the property 3 years ago for £157,000 and I currently owe 165k to Coutts Finance
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 125k contractor mortgage with a lender such as Coutts Finance?
What criteria does a mortgage lender (for example Coutts Finance) use to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
As contractor looking for a mortgage with Coutts Finance 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.
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?
The above information is in relation to properties in England and Wales.
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