HSBC UK Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether HSBC UK Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about HSBC UK Bank 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 on a grad scheme, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around December time. So I suppose my query is, will HSBC UK Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
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 125k contractor mortgage with a lender such as HSBC UK Bank?
As contractor looking for a mortgage with HSBC UK Bank 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.
How can I make myself more attractive to a lender such as HSBC UK Bank 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 mortgage lenders mostly consider contractors as high risk applicants; so demand 3 years’ accounts to validate 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 mortgage broker persuade lenders such as HSBC UK Bank to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
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