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 have been dealing with an IFA regarding my remortgage because I am on a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date this year. I am looking for a three year fixed rate mortgage. Property value £200,000, I want to borrow £150,000. I bought the property 3 years ago for £220,500 and I currently owe 165k to Sainsbury's Bank
I am a freelance contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company confirming I will be transferred onto a permanent contract before the end of my set term? Would this assist my cause when applying for a mortgage with lend
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 submitted. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Is it true that as contractor I would need a significant deposit up to as much as 50 per cent to qualify for a mortgage with Sainsbury's Bank.
The content set out above is in relation to properties in England and Wales.
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