Furness Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Furness Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Furness 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’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 85k contractor mortgage with a lender such as Furness Building Society?
What criteria does a mortgage lender (for example Furness Building Society) adopt to class a borrower 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 Furness 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.
As a contractor (IT consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the due diligence process for Furness Building Society.I am not convinced that my broker is correct.
Is it true that Furness Building Society quote higher interest rates when it comes to mortgages for contractors?
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