Gen H Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Gen H offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Gen H and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, 12 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around June time. So I suppose my question is, will Gen H even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and sent. Received communication from the lender to say they can't move ahead with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any advice?
How can I make myself more attractive to a lender such as Gen H when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that mortgage lenders generally view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
Could a contractor mortgage with Gen H be a better option for me than a traditional Gen H mortgage ?
The content set out above is in relation to properties in England and Wales.
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