Principality Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Principality Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Principality Building Society 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 have just won a fixed term contract of two years (an IT contractor). My contract begin date this year. I am seeking a 5 year fixed rate mortgage. Property value £200,000, I want to borrow 132K. I bought the property 3 years ago for £157,000 and I currently owe 165k to Principality Building Society
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed 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 advice?
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many 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 existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
Is it true that as contractor I would need a huge deposit up to as much as 50 per cent to qualify for a mortgage with Principality Building Society.
The above information covers to properties in England and Wales.
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