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 a media contractor, 18 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my query is, will Masthaven Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What criteria does a mortgage lender (for example Masthaven 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 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 name only?
I understand that for some banks ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Masthaven Bank
If I tell Masthaven Bank that I’m contracting, are they likely to charge me a higher rate on my mortgage?
The above information is in relation to properties in England and Wales.
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