Mortgage Express Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Mortgage Express offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Mortgage Express and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For two years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Mortgage Express in his name using our joint deposit and for me to be added at a later date?
Do any sections of the CML Lender's Handbook stipulate the requirements for Mortgage Express when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Mortgage Express) adopt to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Me and and my wife are soon to submit for our first mortgage application with Mortgage Express. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a six figure salary. Is it going to be a case of just getting a non-contractor mortgage with Mortgage Express in my wife’s name only?
I am lead to believe that mortgage lenders mostly consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Mortgage Express.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Mortgage Express