Capital Home Loans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Capital Home Loans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Capital Home Loans 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, 18 months into a two contract. the chances of me being moved onto a permanent contract are slim. So I suppose my question is, will Capital Home Loans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
Does the CML Lender's Handbook stipulate the requirements for Capital Home Loans when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Capital Home Loans 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.
Going through the contractor mortgage process to move to a buy to let with a new lender. All documents done and submitted. Received communication from the lender to say they can't move forward with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any thoughts?
My research online suggests that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Capital Home Loans to offer funds on the more realistic basis of my contracted rate.
The content set out above covers to properties in England and Wales.
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