Topaz Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Topaz Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Topaz Finance 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 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 begin date last year. I am seeking a five year fixed rate mortgage. Property value £200,000, I want to borrow £150,000. I purchased the property 3 years ago for £220,500 and I currently owe 120K to Topaz Finance
What is current approach to contractor mortgages and Topaz Finance? I am a contractor but my husband has a permanent job. Will Topaz Finance take my salary were we to make an application in both our names?
What criteria does a mortgage lender (for example Topaz Finance) use to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
As contractor looking for a mortgage with Topaz Finance 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.
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many 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.
The content set out above covers to properties in England and Wales.
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