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.
Myself and my husband are currently about to apply for a mortgage with Masthaven Bank. 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 Masthaven Bank in my husband’s sole name?
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
How can I make myself more attractive to a lender such as Masthaven Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Were I to advise Masthaven Bank that I’m contracting, are they likely to charge me a higher rate on my home loan?
My research online indicates that banks and building societies in the main consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT 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 Masthaven Bank to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
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