Generation Home Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Generation Home offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Generation Home and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is current approach to contractor mortgages and Generation Home? I am a contractor but my husband has a permanent job. Will Generation Home take my salary were we to make an application in both our names?
Do any sections of the CML Lender's Handbook set out the requirements for Generation Home when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Generation Home 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 (HR consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Generation Home even grant mortgages to contactors ?
I am lead to believe that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Generation Home.
The above information covers to properties in England and Wales.
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