National Westminster Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether National Westminster Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about National Westminster Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with an IFA regarding my remortgage because I am on a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am looking for a 5 year fixed rate deal. Property value £325k, I want to borrow 132K. I bought the property four years ago for £220,500 and I currently owe 115k to National Westminster Bank
What is current approach to contractor mortgages and National Westminster Bank? I am a contractor but my OH has a permanent job. Will National Westminster Bank take my salary were we to make an application in both our names?
What criteria does a mortgage lender (for example National Westminster Bank) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Me and and my wife are soon to submit for our first mortgage application with National Westminster Bank. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a meaningful income. Is it going to be a case of just getting a non-contractor mortgage with National Westminster Bank in my wife’s name alone?
I don't know if National Westminster Bank are in the business of issuing contractor mortgages but in the event that they do how does a National Westminster Bank contractor mortgage differ from a standard mortgage?
The above information is in relation to properties in England and Wales.
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