Platform Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Platform offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Platform and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
My wife and I are soon to submit for our first mortgage application with Platform. Later this year I start working as a contractor. My wife is time employed as a lawyer and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Platform in my wife’s name alone?
I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many 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. I am particularly interested in a mortgage deal with Platform
As a contractor (HR consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the due diligence process for Platform.I am not convinced that my broker is correct.
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Platform 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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