Rooftop Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Rooftop Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Rooftop Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. the chances of me being moved onto a permanent contract are slim. So I suppose my question is, will Rooftop Mortgages even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
Do any sections of the CML Lender's Handbook set out the requirements for Rooftop Mortgages when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Rooftop Mortgages) adopt to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
I am lead to believe that banks and building societies in the main view contractors as high risk applicants; so demand 3 years’ accounts to substantiate 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 Rooftop Mortgages to offer funds on the more realistic basis of my contracted rate.
I don't know if Rooftop Mortgages grant contractor mortgages but if they do how does a Rooftop Mortgages contractor mortgage differ from a standard home loan?
The content set out above is in relation to properties in England and Wales.
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