Paratus Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Paratus offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Paratus and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am a self employed contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company clarifying that I will be transferred onto a permanent contract before the expiry of my set term? Would this help my cause when applying for a mortgage with lend
I am a media contractor looking to buy a home in Bedford. My next step is to secure a mortgage preferably with Paratus. Should I contact Paratus directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and Paratus.
As contractor looking for a mortgage with Paratus 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.
Going through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and submitted. Received communication from the lender to say they can't move forward with process unless my current manager writes me a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
I am lead to believe that mortgage lenders mostly consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Paratus to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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