Tandem Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Tandem Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Tandem 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 a mortgage adviser regarding my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract started date last year. I am looking for a five year fixed rate mortgage. Property value 165K, I want to borrow 132K. I purchased the property three years ago for £220,500 and I currently owe 165k to Tandem Bank
What is current approach to contractor mortgages and Tandem Bank? I am a contractor but my hubby has a permanent job. Will Tandem Bank take my salary should we make a joint application?
How can I make myself more attractive to a lender such as Tandem Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Notwithstanding that I am a contractor (HR consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Tandem Bank even grant mortgages to contactors ?
I am lead to believe that mortgage lenders generally consider 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 broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Tandem Bank.
The content set out above is in relation to properties in England and Wales.
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