Coutts Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Coutts Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Coutts Finance and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
Do any sections of the CML Lender's Handbook stipulate the requirements for Coutts Finance when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Coutts Finance) adopt to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
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.
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?
I am lead to believe that mortgage lenders mostly consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as Coutts Finance.
The content set out above is in relation to properties in England and Wales.
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