Hodge Equity Release Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Hodge Equity Release offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Hodge Equity Release and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser concerning my remortgage because I am on a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am seeking a three year fixed rate deal. Property worth 165K, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 120K to Hodge Equity Release
What is current approach to contractor mortgages and Hodge Equity Release? I am a contractor but my partner has a permanent job. Will Hodge Equity Release take my salary if we make an application in both our names?
Do any sections of the CML Lender's Handbook set out the requirements for Hodge Equity Release when it comes to contractor mortgages or self-employed mortgages.
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All documents done and sent. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely be prolonged and when new end date will be. Any advice?
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 engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Hodge Equity Release to offer funds on the more realistic basis of my contracted rate.
The content set out above covers to properties in England and Wales.
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