Zephyr Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Zephyr Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Zephyr Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am an IT contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally with Zephyr Mortgages. Would it be wise to contact Zephyr Mortgages directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Zephyr Mortgages.
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 Zephyr Mortgages?
Is it correct that that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Zephyr Mortgages.
My research online suggests that banks and building societies mostly consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Zephyr Mortgages to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Zephyr Mortgages be a better option for me than a standard Zephyr Mortgages mortgage ?
The content set out above covers to properties in England and Wales.
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