Hampden Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Hampden offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Hampden 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 an IFA concerning my remortgage because I have just won a fixed term contract of two years (an engineering contractor). My contract begin date this year. I am looking for a three year fixed rate deal. Property worth £200,000, I want to borrow £150,000. I purchased the property 3 years ago for £220,500 and I currently owe 165k to Hampden
For two years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Hampden in his name using our joint deposit and for me to be added at a later date?
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 Hampden?
Do any sections of the CML Lender's Handbook set out the requirements for Hampden when it comes to contractor mortgages or self-employed mortgages.
My research online indicates that banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
The above information is in relation to properties in England and Wales.
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