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 an engineering contractor, 18 months into a three year contract. the chances of me being moved onto a permanent contract 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’?
What is current approach to contractor mortgages and Foundation Home loans? I am a contractor but my husband has a permanent job. Will Foundation Home loans take my salary if we make a joint application?
What criteria does a mortgage lender (for example Foundation Home loans) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
I am finding the process of trying to obtain 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.
How can I make myself more attractive to a lender such as Foundation Home loans when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
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