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 have retained a broker regarding my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date last year. I am looking for a three year fixed rate deal. Property value 165K, I want to borrow 132K. I bought the property four years ago for 138K and I currently owe 115k to Lloyds
I am a freelance 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 moved onto a permanent contract prior to the expiry of my set term? Would this help in applying for a mortgage with lend
What criteria does a mortgage lender (for example Lloyds) adopt to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
As contractor looking for a mortgage with Lloyds 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.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
The content set out above covers to properties in England and Wales.
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