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.
I am seeking some mortgage advice. I am currently an IT contractor, 12 months into a two contract. However, I'm unlikely to be moved onto a permanent contract until around June time. My query is, will Magellan Homeloans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
For two 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?
As contractor looking for a mortgage with Magellan Homeloans 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.
Myself and my husband are currently about to apply for a mortgage with Magellan Homeloans. Next month I commence working as a contractor. My husband is full time employed and so does have a six figure income. Is it going to be a case of just getting a non-contractor mortgage with Magellan Homeloans in my husband’s sole name?
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
The content set out above covers to properties in England and Wales.
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