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.
For some 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 NRAM Ltd in his name using our joint deposit and for me to be added at a later date?
I am finding the process of trying to obtain a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
I understand that for some lenders ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with NRAM Ltd
As a contractor (in the Oil & Gas industry) do I really need to supply at least six months of both business and personal bank statements as part of the due diligence process for NRAM Ltd.I am not convinced that my broker is correct.
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 a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as NRAM Ltd to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from NRAM Ltd