DB UK Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether DB UK Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about DB UK Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around June time. My question is, will DB UK Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am finding the process of looking for 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.
I understand that for some lenders ‘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. I am particularly interested in a mortgage deal with DB UK Bank
My research online suggests that mortgage lenders mostly consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as DB UK Bank to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with DB UK Bank be a better option for me than a standard DB UK Bank mortgage ?
The above information is in relation to properties in England and Wales.
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