Holmesdale Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Holmesdale Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Holmesdale Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently an IT contractor, 18 months into a 2 contract. the chances of me being moved onto a permanent contract are slim. So I suppose my query is, will Holmesdale Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am Oil & Gas contractor looking to buy a home in Nottingham. My next step is to secure a mortgage preferably with Holmesdale Building Society. Would it be wise to contact Holmesdale Building Society directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Holmesdale Building Society.
Does the CML Lender's Handbook stipulate the requirements for Holmesdale Building Society when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Holmesdale Building Society) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
My research online indicates that mortgage lenders in the main consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
The above information covers to properties in England and Wales.
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