Family Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Family Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Family Building Society 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 Family Building Society? I am a contractor but my hubby has a permanent job. Will Family Building Society take my salary should we make an application in both our names?
As contractor looking for a mortgage with Family Building Society 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.
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any 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 am lead to believe that banks and building societies in the main view 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 mortgage broker persuade lenders such as Family Building Society to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Family Building Society be a better option for me than a standard Family Building Society mortgage ?
The content set out above covers to properties in England and Wales.
Find out how to order your redemption statement request from Family Building Society