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 am seeking some mortgage advice. I am currently an IT contractor, One year into a two contract. However, I'm unlikely to be moved onto a permanent contract until around March time. So I suppose my question is, will Masthaven Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a broker concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date last year. I am seeking a three year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I bought the property four years ago for £157,000 and I currently owe 115k to Masthaven Bank
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 75k contractor mortgage with a lender such as Masthaven Bank?
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.
I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
The content set out above covers to properties in England and Wales.
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