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 am looking for some mortgage advice. I am currently an IT contractor, 18 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My query is, will First Direct even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
Myself and my fiance are currently about to apply for our first mortgage with First Direct. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a healthy incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
How can I make myself more attractive to a lender such as First Direct when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I understand that for some banks ‘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 First Direct
Even though I am a contractor (freelance journalist) is it necessary for me to produce at least six months of both business and personal bank statements as part of the due diligence process for First Direct.I am not convinced that my broker is correct.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from First Direct