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.
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with HSBC UK Bank in his name using our joint deposit and for me to be added at a later date?
What criteria does a mortgage lender (for example HSBC UK Bank) use to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Going through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and submitted. Received a call from the lender to say they can't move forward with process unless my current manager writes me a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
Is it true that HSBC UK Bank quote higher interest rates when it comes to mortgages for contractors?
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
The above information covers to properties in England and Wales.
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