Paragon Residential Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Paragon Residential offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Paragon Residential 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 a broker concerning 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 begin date last year. I am seeking a five year fixed rate deal. Property value 165K, I want to borrow £150,000. I purchased the property 3 years ago for £220,500 and I currently owe 115k to Paragon Residential
I am a self employed contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company confirming I will be moved onto a permanent contract before the expiry of my set term? Would this help my cause when applying for a mortgage with lend
What is the situation with contractor mortgages and Paragon Residential? I am a contractor but my hubby has a permanent job. Will Paragon Residential take my salary were we to make an application in both our names?
What criteria does a mortgage lender (for example Paragon Residential) 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 business?
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Paragon Residential even grant mortgages to contactors ?
The above information is in relation to properties in England and Wales.
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