The Mortgage Works Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether The Mortgage Works offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about The Mortgage Works and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. the chances of me being moved onto a permanent contract are slim. My query is, will The Mortgage Works even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a mortgage adviser 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 seeking a five year fixed rate deal. Property worth 165K, I want to borrow £150,000. I bought the property 3 years ago for £157,000 and I currently owe 115k to The Mortgage Works
As contractor looking for a mortgage with The Mortgage Works will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
How can I make myself more attractive to a lender such as The Mortgage Works when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
The content set out above is in relation to properties in England and Wales.
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