Pepper Money Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Pepper Money offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Pepper Money and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently an IT contractor, 18 months into a two contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my query is, will Pepper Money even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (a media contractor). My contract started date last year. I am seeking a five year fixed rate mortgage. Property value £200,000, I want to borrow 132K. I bought the property 3 years ago for £220,500 and I currently owe 120K to Pepper Money
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 95k contractor mortgage with a lender such as Pepper Money?
As contractor looking for a mortgage with Pepper Money 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 looking for a contractor mortgage extremely 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.
The above information covers to properties in England and Wales.
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