Dudley Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Dudley Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Dudley Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is the situation with contractor mortgages and Dudley Building Society? I am a contractor but my hubby has a permanent job. Will Dudley Building Society take my salary were we to make a joint application?
What criteria does a mortgage lender (for example Dudley Building Society) adopt 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 Dudley Building Society 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.
Myself and my fiance are currently about to apply for our first mortgage with Dudley Building Society. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a good incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
My research online suggests that banks and building societies in the main consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Dudley Building Society.
The content set out above is in relation to properties in England and Wales.
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