Landbay Partners Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Landbay Partners offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Landbay Partners and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, 12 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my query is, will Landbay Partners even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What is current approach to contractor mortgages and Landbay Partners? I am a contractor but my hubby has a permanent job. Will Landbay Partners take my salary were we to make an application in both our names?
As contractor looking for a mortgage with Landbay Partners 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.
I understand that for some banks ‘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. I am particularly interested in a mortgage deal with Landbay Partners
My research online indicates that banks and building societies in the main view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Landbay Partners.
The above information covers to properties in England and Wales.
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