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 retained an IFA concerning my remortgage because I have just won a fixed term contract of four years (an IT contractor). My contract begin date this year. I am looking for a 5 year fixed rate mortgage. Property value £200,000, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 120K to Tandem Bank
I am a finacial contractor looking to buy a home in London. My next step is to secure a mortgage preferably with Tandem Bank. Would it be wise to contact Tandem Bank directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Tandem Bank.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 85k contractor mortgage with a lender such as Tandem Bank?
What criteria does a mortgage lender (for example Tandem Bank) adopt to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Is it true that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Tandem Bank.
The content set out above is in relation to properties in England and Wales.
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