Secure Trust Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Secure Trust Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Secure Trust 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, 12 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Secure Trust Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What is the situation with contractor mortgages and Secure Trust Bank? I am a contractor but my OH has a permanent job. Will Secure Trust Bank take my salary were we to make a joint application?
What criteria does a mortgage lender (for example Secure Trust Bank) adopt to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
I am well aware that the days of self-certification contractor mortgages are a thing of the past. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Secure Trust Bank
My research online indicates that mortgage lenders mostly view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Secure Trust Bank.
The content set out above is in relation to properties in England and Wales.
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