Magellan Homeloans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Magellan Homeloans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Magellan Homeloans and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Magellan Homeloans in his name using our joint deposit and for me to be added at a later date?
Does the CML Lender's Handbook stipulate the requirements for Magellan Homeloans when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Magellan Homeloans) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and submitted. Received communication from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any thoughts?
I am well aware that the days of self-certification contractor mortgages are a thing of the past. 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 Magellan Homeloans
The above information covers to properties in England and Wales.
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