LendInvest Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether LendInvest offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about LendInvest and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser regarding my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date last year. I am seeking a five year fixed rate mortgage. Property worth £200,000, I want to borrow 132K. I bought the property 3 years ago for 138K and I currently owe 120K to LendInvest
What criteria does a mortgage lender (for example LendInvest) use to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
I am well aware that the days of self-certification contractor mortgages are long gone. 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 LendInvest
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do LendInvest even grant mortgages to contactors ?
I don't know if LendInvest are in the business of issuing contractor mortgages but in the event that they do how does a LendInvest contractor mortgage differ from a standard mortgage?
The above information is in relation to properties in England and Wales.
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