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.
What criteria does a mortgage lender (for example Aviva Equity Release) adopt to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Myself and my husband are currently about to apply for a mortgage with Aviva Equity Release. Next month I commence working as a contractor. My husband is full time employed and so does have a six figure income. Is it going to be a case of just getting a non-contractor mortgage with Aviva Equity Release in my husband’s sole name?
I understand that for some lenders ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Aviva Equity Release
My research online indicates that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
I don't know if Aviva Equity Release grant contractor mortgages but if they do how does a Aviva Equity Release contractor mortgage differ from a standard mortgage?
The content set out above covers to properties in England and Wales.
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