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 an IFA 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 started date last year. I am seeking a three year fixed rate deal. Property value 165K, I want to borrow 132K. I purchased the property 3 years ago for £157,000 and I currently owe 120K to Hodge Equity Release
I am a freelance contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company clarifying that I will be moved onto a permanent contract before the expiry of my set term? Would this help my cause when applying for a mortgage with lend
Me and and my wife are soon to submit for our first mortgage application with Hodge Equity Release. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a meaningful income. Is it going to be a case of just getting a non-contractor mortgage with Hodge Equity Release in my wife’s name alone?
I am lead to believe that banks and building societies in the main view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Hodge Equity Release.
I have no idea if Hodge Equity Release grant contractor mortgages but if they do how does a Hodge Equity Release contractor mortgage differ from a standard home loan?
The content set out above covers to properties in England and Wales.
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