Intelligent Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Intelligent Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Intelligent Finance and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have retained a mortgage adviser regarding my remortgage because I have just won a fixed term contract of 3 years (a finacial contractor). My contract started date last year. I am looking for a five year fixed rate deal. Property worth £200,000, I want to borrow 132K. I purchased the property three years ago for £157,000 and I currently owe 165k to Intelligent Finance
Myself and my husband are currently about to apply for a mortgage with Intelligent Finance. Next month I commence working as a contractor. My husband is full time employed and so does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Intelligent Finance in my husband’s name only?
How can I make myself more attractive to a lender such as Intelligent Finance when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I understand that for some mortgage companies ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Intelligent Finance
My research online suggests that mortgage lenders generally view contractors as high risk applicants; so require 3 years’ accounts to substantiate 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 mortgage broker persuade lenders such as Intelligent Finance to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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