Barclays plc Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Barclays plc offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Barclays plc and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is current approach to contractor mortgages and Barclays plc? I am a contractor but my husband has a permanent job. Will Barclays plc take my salary were we to make a joint application?
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 75k contractor mortgage with a lender such as Barclays plc?
As contractor looking for a mortgage with Barclays plc 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.
My research online suggests that banks and building societies generally consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate 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 persuade lenders such as Barclays plc to offer funds on the more realistic basis of my contracted rate.
I have no idea if Barclays plc grant contractor mortgages but in the event that they do how does a Barclays plc contractor mortgage differ from a standard home loan?
The above information is in relation to properties in England and Wales.
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