Foundation Home loans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Foundation Home loans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Foundation Home loans 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 an IT contractor, 12 months into a 2 contract. the chances of me being moved onto an employed basis are slim. My query is, will Foundation Home loans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
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 in applying for a mortgage with lend
What is current approach to contractor mortgages and Foundation Home loans? I am a contractor but my partner has a permanent job. Will Foundation Home loans take my salary should we make an application in both our names?
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so demand 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 persuade lenders such as Foundation Home loans to offer funds on the more realistic basis of my contracted rate.
I have no idea whether Foundation Home loans grant contractor mortgages but in the event that they do how does a Foundation Home loans contractor mortgage differ from a standard mortgage?
The content set out above is in relation to properties in England and Wales.
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