Masthaven Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Masthaven Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Masthaven Bank 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 am on a fixed term contract of two years (on a grad scheme). My contract started date this year. I am seeking a three year fixed rate mortgage. Property worth £200,000, I want to borrow £150,000. I bought the property four years ago for £157,000 and I currently owe 115k to Masthaven Bank
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and submitted. Received a call from the lender to say they can't move forward with process unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
My wife and I are soon to submit for our first mortgage application with Masthaven Bank. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a healthy income. Is it going to be a case of just getting a non-contractor mortgage with Masthaven Bank in my wife’s sole name?
Notwithstanding that I am a contractor (in the Oil & Gas industry) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Masthaven Bank even grant mortgages to contactors ?
If I inform Masthaven Bank that I’m contracting, are they likely to charge me a higher rate on my mortgage?
The content set out above is in relation to properties in England and Wales.
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