Masthaven Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Masthaven Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Masthaven 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 been dealing with an IFA concerning my remortgage because I am on a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date earlier this year. I am seeking a 5 year fixed rate deal. Property value £325k, I want to borrow £150,000. I purchased the property 3 years ago for £157,000 and I currently owe 165k to Masthaven Bank
I am Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage ideally with Masthaven Bank. Should I contact Masthaven Bank directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Masthaven Bank.
What criteria does a mortgage lender (for example Masthaven Bank) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Myself and my fiance are currently about to apply for our first mortgage with Masthaven 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 as an accountant, and so does have a good 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?
Were I to reveal to Masthaven Bank that I’m contracting, will they charge me a higher rate on my home loan?
The content set out above is in relation to properties in England and Wales.
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