M&S Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether M&S Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about M&S Bank 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 regarding my remortgage because I have just won a fixed term contract of two years (a media contractor). My contract started date this year. I am seeking a three year fixed rate mortgage. Property worth £325k, I want to borrow 132K. I bought the property 3 years ago for £220,500 and I currently owe 165k to M&S Bank
What criteria does a mortgage lender (for example M&S Bank) use to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Myself and my fiance are currently about to apply for our first mortgage with M&S Bank. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a healthy salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
How can I make myself more attractive to a lender such as M&S Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Even though I am a contractor (HR consultant) is it necessary for me to produce at least six months of both business and personal bank statements as part of the due diligence process for M&S Bank.I am not convinced that my broker is correct.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from M&S Bank