National Counties Building Society Contractor Mortgages - Help and FAQs

I am looking for some mortgage advice. I am currently a media contractor, 12 months into a two contract. However, I'm unlikely to be moved onto a permanent contract until around December time. So I suppose my query is, will National Counties Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?

I have been dealing with a broker regarding my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract begin date earlier this year. I am seeking a 5 year fixed rate deal. Property worth £200,000, I want to borrow 132K. I bought the property 3 years ago for £157,000 and I currently owe 120K to National Counties Building Society

As contractor looking for a mortgage with National Counties 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.

My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?

I am lead to believe that banks and building societies mostly consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have built up.