Monmouthshire Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Monmouthshire Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Monmouthshire Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
As contractor looking for a mortgage with Monmouthshire Building Society 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.
Myself and my husband are currently about to apply for a mortgage with Monmouthshire Building Society. Next month I commence working as a contractor. My husband is full time employed and so does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Monmouthshire Building Society in my husband’s sole name?
How can I make myself more attractive to a lender such as Monmouthshire Building Society when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Monmouthshire Building Society to offer funds on the more realistic basis of my contracted rate.
I have no idea if Monmouthshire Building Society are in the business of issuing contractor mortgages but in the event that they do how does a Monmouthshire Building Society contractor mortgage differ from a traditional home loan?
The content set out above covers to properties in England and Wales.
Find out how to order your redemption statement request from Monmouthshire Building Society