Halifax Loans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Halifax Loans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Halifax Loans and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 95k contractor mortgage with a lender such as Halifax Loans?
As contractor looking for a mortgage with Halifax Loans will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
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 submitted. Received communication from the lender to say they can't move forward with process unless my current manager writes me a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
How can I make myself more attractive to a lender such as Halifax Loans when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that banks and building societies generally view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Halifax Loans to offer funds on the more realistic basis of my contracted rate.
The above information covers to properties in England and Wales.
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