First Direct Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether First Direct offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about First Direct and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser regarding my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am seeking a 5 year fixed rate mortgage. Property value £325k, I want to borrow 132K. I purchased the property three years ago for 138K and I currently owe 115k to First Direct
What is current approach to contractor mortgages and First Direct? I am a contractor but my partner has a permanent job. Will First Direct take my salary if we make a joint application?
What criteria does a mortgage lender (for example First Direct) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
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?
Could a contractor mortgage with First Direct be a better option for me than a traditional First Direct mortgage ?
The content set out above is in relation to properties in England and Wales.
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