NRAM Ltd Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether NRAM Ltd offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about NRAM Ltd and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What criteria does a mortgage lender (for example NRAM Ltd) use to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
As contractor looking for a mortgage with NRAM Ltd 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.
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
How can I make myself more attractive to a lender such as NRAM Ltd when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (in the Oil & Gas industry) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do NRAM Ltd even grant mortgages to contactors ?
The above information is in relation to properties in England and Wales.
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