Foundation Home loans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Foundation Home loans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Foundation Home loans 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 a media contractor, One year into a 2 contract. the chances of me being moved onto an employed basis are slim. My query is, will Foundation Home loans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am a media contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally from Foundation Home loans. Should I contact Foundation Home loans directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Foundation Home loans.
What criteria does a mortgage lender (for example Foundation Home loans) use to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Me and and my wife are soon to submit for our first mortgage application with Foundation Home loans. Later this year I start working as a contractor. My wife is time employed as a lawyer and does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Foundation Home loans in my wife’s name alone?
If I reveal to Foundation Home loans that I’m contracting, are they likely to charge me a higher rate on my home loan?
The content set out above covers to properties in England and Wales.
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