LiveMore Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether LiveMore offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about LiveMore 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 a broker concerning my remortgage because I am on a fixed term contract of 3 years (an engineering contractor). My contract begin date last year. I am seeking a five year fixed rate deal. Property worth £200,000, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 120K to LiveMore
What is current approach to contractor mortgages and LiveMore? I am a contractor but my partner has a permanent job. Will LiveMore take my salary were we to make an application in both our names?
Myself and my husband are currently about to apply for a mortgage with LiveMore. Next month I commence working as a contractor. My husband is full time employed and so does have a six figure income. Is it going to be a case of just getting a non-contractor mortgage with LiveMore in my husband’s name alone?
Is it correct that that as contractor I would require a huge deposit up to as much as 50 per cent to qualify for a mortgage with LiveMore.
My research online indicates that mortgage lenders 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 give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as LiveMore.
The content set out above is in relation to properties in England and Wales.
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