Aviva Equity Release Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Aviva Equity Release offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Aviva Equity Release and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Aviva Equity Release in his name using our joint deposit and for me to be added at a later date?
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 Aviva Equity Release?
What criteria does a mortgage lender (for example Aviva Equity Release) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any 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.
My research online indicates that mortgage lenders in the main consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Aviva Equity Release to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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