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 broker concerning my remortgage because I have just won a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am looking for a three year fixed rate mortgage. Property value 165K, I want to borrow 132K. I purchased the property 3 years ago for £220,500 and I currently owe 115k to Atom Bank
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and submitted. Received communication from the lender to say they can't move ahead with process unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any advice?
My wife and I are soon to submit for our first mortgage application with Atom Bank. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a meaningful income. Is it going to be a case of just getting a non-contractor mortgage with Atom Bank in my wife’s sole name?
How can I make myself more attractive to a lender such as Atom Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
The content set out above is in relation to properties in England and Wales.
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