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 retained a mortgage adviser concerning my remortgage because I am on a fixed term contract of two years (an engineering contractor). My contract started date earlier this year. I am seeking a three year fixed rate deal. Property worth £200,000, I want to borrow 132K. I purchased the property 3 years ago for £157,000 and I currently owe 115k to Masthaven Bank
I am a media contractor looking to buy a home in London. My next step is to secure a mortgage ideally from Masthaven Bank. Am I best advised to contact Masthaven Bank directly or seek the assistance of a contractor specialist mortgage broker who is used to dealing with contractors and Masthaven Bank.
Does the CML Lender's Handbook stipulate the requirements for Masthaven Bank when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Masthaven Bank will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
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 Masthaven Bank.
The content set out above is in relation to properties in England and Wales.
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