Ecology Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Ecology Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Ecology Building Society 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 a broker concerning my remortgage because I have just won a fixed term contract of two years (on a grad scheme). My contract started date this year. I am seeking a five year fixed rate deal. Property worth £325k, I want to borrow 132K. I purchased the property three years ago for 138K and I currently owe 165k to Ecology Building Society
I am a self employed contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company clarifying that I will be moved onto a permanent contract prior to the end of my set term? Would this assist in applying for a mortgage with lend
What is current approach to contractor mortgages and Ecology Building Society? I am a contractor but my hubby has a permanent job. Will Ecology Building Society take my salary were we to make a joint application?
How can I make myself more attractive to a lender such as Ecology Building Society when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that banks and building societies in the main view 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 reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Ecology Building Society to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Ecology Building Society