Vida Homeloans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Vida Homeloans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Vida Homeloans 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 concerning my remortgage because I am on a fixed term contract of four years (a finacial contractor). My contract started date this year. I am seeking a 5 year fixed rate mortgage. Property worth £325k, I want to borrow 132K. I bought the property four years ago for £157,000 and I currently owe 115k to Vida Homeloans
As contractor looking for a mortgage with Vida Homeloans 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 wife and I are soon to submit for our first mortgage application with Vida Homeloans. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Vida Homeloans in my wife’s sole name?
I understand that for some lenders ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Vida Homeloans
Could a contractor mortgage with Vida Homeloans be a better option for me than a standard Vida Homeloans mortgage ?
The content set out above is in relation to properties in England and Wales.
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