Bank of Ireland Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Ireland Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Ireland Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am a finacial contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally from Bank of Ireland Mortgages. Am I best advised to contact Bank of Ireland Mortgages directly or seek the assistance of a contractor specialist mortgage broker who is used to dealing with contractors and Bank of Ireland Mortgages.
Myself and my fiance are currently about to apply for our first mortgage with Bank of Ireland Mortgages. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as a lawyer, and so does have a healthy incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Is it correct that that as contractor I would need a significant deposit up to as much as 50 per cent to qualify for a mortgage with Bank of Ireland Mortgages.
My research online indicates that banks and building societies in the main consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Bank of Ireland Mortgages to offer funds on the more realistic basis of my contracted rate.
The above information covers to properties in England and Wales.
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