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.
What is the situation with contractor mortgages and Lloyds? I am a contractor but my partner has a permanent job. Will Lloyds take my salary should we make a joint application?
What criteria does a mortgage lender (for example Lloyds) use to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Myself and my fiance are currently about to apply for our first mortgage with Lloyds. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a good incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Were I to tell Lloyds that I’m contracting, are they likely to charge me a higher rate on my mortgage?
The above information is in relation to properties in England and Wales.
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