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.
What is the situation with contractor mortgages and Principality Building Society? I am a contractor but my husband has a permanent job. Will Principality Building Society take my salary should we make an application in both our names?
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and sent. Received a call 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?
Myself and my husband are currently about to apply for a mortgage with Principality Building Society. Next month I commence working as a contractor. My husband is full time employed and so does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Principality Building Society in my husband’s sole name?
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Principality Building Society to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Principality Building Society be a better option for me than a traditional Principality Building Society mortgage ?
The above information covers to properties in England and Wales.
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