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 an IFA concerning my remortgage because I am on a fixed term contract of two years (an engineering contractor). My contract begin date last year. I am looking for a 5 year fixed rate mortgage. Property worth £200,000, I want to borrow 132K. I purchased the property three years ago for £220,500 and I currently owe 115k to Hodge Equity Release
What is the situation with contractor mortgages and Hodge Equity Release? I am a contractor but my hubby has a permanent job. Will Hodge Equity Release take my salary should we make a joint application?
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 Hodge Equity Release?
What criteria does a mortgage lender (for example Hodge Equity Release) use to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
My research online suggests that mortgage lenders generally view 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 paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have established.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Hodge Equity Release