Hodge Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Hodge offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Hodge and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Hodge in his name using our joint deposit and for me to be added at a later date?
Does the CML Lender's Handbook stipulate the requirements for Hodge when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Hodge) adopt to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
My research online suggests that banks and building societies generally view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as Hodge.
I don't know if Hodge are in the business of issuing contractor mortgages but in the event that they do how does a Hodge contractor mortgage differ from a traditional mortgage?
The content set out above is in relation to properties in England and Wales.
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