Reliance Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Reliance Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Reliance Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Reliance Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am a freelance contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company confirming I will be transferred onto a permanent contract prior to the end of my set term? Would this help in applying for a mortgage with lend
What is the situation with contractor mortgages and Reliance Bank? I am a contractor but my partner has a permanent job. Will Reliance Bank take my salary if we make an application in both our names?
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?
I am lead to believe that mortgage lenders in the main 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 Reliance Bank to offer funds on the more realistic basis of my contracted rate.
The above information covers to properties in England and Wales.
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