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.
What is the situation with contractor mortgages and Hampden? I am a contractor but my husband has a permanent job. Will Hampden take my salary if we make an application in both our names?
Does the CML Lender's Handbook stipulate the requirements for Hampden when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Hampden 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.
Is it correct that that as contractor I would need a significant deposit up to as much as 50 per cent to qualify for a mortgage with Hampden.
My research online indicates that banks and building societies mostly view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Hampden 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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