Perenna Contractor Mortgages - Help and FAQs

Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Perenna offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Perenna and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.

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 Perenna?

What criteria does a mortgage lender (for example Perenna) adopt to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?

Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All documents done and sent. 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 thoughts?

I am finding the process of looking for a contractor mortgage very 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.

My research online suggests that banks and building societies 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 mortgage broker remove the hassle by making use of the expertise and contacts they have established.

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