Kensington Mortgage Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Kensington Mortgage offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Kensington Mortgage and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
Does the CML Lender's Handbook stipulate the requirements for Kensington Mortgage 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 lender. All documents done and submitted. Received a call from the lender to say they can't move forward with application unless my current manager writes me a letter saying my contract will definitely be prolonged and when new end date will be. Any thoughts?
My wife and I are soon to submit for our first mortgage application with Kensington Mortgage. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Kensington Mortgage in my wife’s sole name?
I am lead to believe that mortgage lenders in the main 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 reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Kensington Mortgage to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Kensington Mortgage be a better option for me than a traditional Kensington Mortgage mortgage ?
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