Atom Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Atom Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Atom Bank 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 a mortgage adviser concerning 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 earlier this year. I am looking for a 5 year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I bought the property 3 years ago for 138K and I currently owe 115k to Atom Bank
Do any sections of the CML Lender's Handbook stipulate the requirements for Atom Bank when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Atom Bank 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 trying to obtain a contractor mortgage extremely 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.
Could a contractor mortgage with Atom Bank be a better option for me than a traditional Atom Bank mortgage ?
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Atom Bank