Accord Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Accord Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Accord Mortgages 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 broker regarding my remortgage because I am on a fixed term contract of two years (on a grad scheme). My contract begin date last year. I am looking for a five year fixed rate deal. Property value £200,000, I want to borrow 132K. I purchased the property four years ago for £157,000 and I currently owe 165k to Accord Mortgages
I am a media contractor looking to buy a home in London. My next step is to secure a mortgage ideally with Accord Mortgages. Should I contact Accord Mortgages directly or seek the services of a contractor specialist mortgage broker who focuses on dealing with contractors and Accord Mortgages.
What criteria does a mortgage lender (for example Accord Mortgages) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
My research online suggests that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by maximising use of the expertise and contacts they have established.
I don't know whether Accord Mortgages are in the business of issuing contractor mortgages but if they do how does a Accord Mortgages contractor mortgage differ from a traditional mortgage?
The above information covers to properties in England and Wales.
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