Birmingham Midshires Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Birmingham Midshires offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Birmingham Midshires and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, One year into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around June time. So I suppose my query is, will Birmingham Midshires even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am a media contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally from Birmingham Midshires. Am I best advised to contact Birmingham Midshires directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Birmingham Midshires.
What criteria does a mortgage lender (for example Birmingham Midshires) use to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
I am well aware that the days of self-certification contractor mortgages are long gone. 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 Birmingham Midshires
I am lead to believe that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Birmingham Midshires.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Birmingham Midshires