Hampden Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Hampden offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Hampden and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with an IFA concerning my remortgage because I am on a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date earlier this year. I am seeking a three year fixed rate deal. Property value £200,000, I want to borrow 132K. I bought the property three years ago for £157,000 and I currently owe 120K to Hampden
Do any sections of the CML Lender's Handbook set out the requirements for Hampden when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Hampden) 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?
I am finding the process of looking for a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
The above information is in relation to properties in England and Wales.
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