Darlington Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Darlington Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Darlington Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am an IT contractor looking to buy a home in London. My next step is to secure a mortgage preferably from Darlington Building Society. Would it be wise to contact Darlington Building Society directly or seek the services of a contractor specialist mortgage broker who focuses on dealing with contractors and Darlington Building Society.
Does the CML Lender's Handbook stipulate the requirements for Darlington Building Society when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Darlington Building Society) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Is it correct that Darlington Building Society quote higher interest rates in respect of mortgages for contractors?
My research online indicates that mortgage lenders mostly 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 give an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Darlington Building Society to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Darlington Building Society