Lloyds Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Lloyds offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Lloyds and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently a finacial contractor, One year into a two contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My question is, will Lloyds even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a mortgage adviser concerning my remortgage because I am on a fixed term contract of two years (on a grad scheme). My contract started date this year. I am seeking a 5 year fixed rate deal. Property worth £200,000, I want to borrow 132K. I bought the property 3 years ago for £157,000 and I currently owe 120K to Lloyds
What is current approach to contractor mortgages and Lloyds? I am a contractor but my hubby has a permanent job. Will Lloyds take my salary were we to make a joint application?
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 Lloyds
My research online indicates that mortgage lenders in the main consider contractors as high risk applicants; so require 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 contractor-focused mortgage broker persuade lenders such as Lloyds to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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