Britannia Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Britannia offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Britannia 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 self employed contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company clarifying that I will be transferred onto a permanent contract before the expiry of my set term? Would this help in applying for a mortgage with lend
What criteria does a mortgage lender (for example Britannia) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
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. I am particularly interested in a mortgage deal with Britannia
As a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Britannia even grant mortgages to contactors ?
My research online suggests that banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect 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.
The content set out above is in relation to properties in England and Wales.
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