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 retained a mortgage adviser concerning my remortgage because I am on a fixed term contract of two years (an IT contractor). My contract started date this year. I am looking for a 5 year fixed rate mortgage. Property worth 165K, I want to borrow £150,000. I purchased the property four years ago for £157,000 and I currently owe 165k to Hodge Equity Release
I am a media contractor looking to buy a home in Nottingham. My next step is to secure a mortgage preferably with Hodge Equity Release. Would it be wise to contact Hodge Equity Release directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and Hodge Equity Release.
How can I make myself more attractive to a lender such as Hodge Equity Release when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (HR consultant) do I really need to produce at least six months of both business and personal bank statements as part of the due diligence process for Hodge Equity Release.I am not convinced that my broker is correct.
I am lead to believe that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Hodge Equity Release.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Hodge Equity Release