Sainsbury's Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Sainsbury's Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Sainsbury's 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 a finacial contractor, 18 months into a two contract. the chances of me being moved onto an employed basis are slim. So I suppose my query is, will Sainsbury's Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a broker concerning my remortgage because I have just won a fixed term contract of four years (on a grad scheme). My contract begin date this year. I am seeking a three year fixed rate deal. Property value £200,000, I want to borrow 132K. I purchased the property four years ago for £220,500 and I currently owe 120K to Sainsbury's Bank
What criteria does a mortgage lender (for example Sainsbury's Bank) use to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and sent. Received communication from the lender to say they can't move forward with application unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
The above information is in relation to properties in England and Wales.
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