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 am Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage preferably with Hampden. Should I contact Hampden directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and Hampden.
My wife and I are soon to submit for our first mortgage application with Hampden. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Hampden in my wife’s sole name?
How can I make myself more attractive to a lender such as Hampden 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 banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Hampden to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Hampden be a better option for me than a traditional Hampden mortgage ?
The above information is in relation to properties in England and Wales.
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