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.
I have retained a mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date last year. I am looking for a three year fixed rate deal. Property value 165K, I want to borrow £150,000. I bought the property three years ago for 138K and I currently owe 120K to Barclays plc
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?
I understand that for some banks ‘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. In particular I have my eye on a mortgage deal with Barclays plc
I am lead to believe that banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Barclays plc to offer funds on the more realistic basis of my contracted rate.
I have no idea whether Barclays plc grant contractor mortgages but if they do how does a Barclays plc contractor mortgage differ from a standard home loan?
The content set out above covers to properties in England and Wales.
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