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’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 85k contractor mortgage with a lender such as Principality Building Society?
Do any sections of the CML Lender's Handbook stipulate the requirements for Principality Building Society when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Principality Building Society 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.
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 vetting process for Principality Building Society.I am not convinced that my broker is correct.
Were I to inform Principality Building Society that I’m contracting, are they likely to charge me a higher rate on my mortgage?
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Principality Building Society