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 am looking for some mortgage advice. I am currently on a grad scheme, 18 months into a two contract. However, I'm unlikely to be moved onto a permanent contract until around March time. My question is, will Masthaven Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 95k contractor mortgage with a lender such as Masthaven Bank?
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and sent. Received a call from the lender to say they can't move forward with application unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any advice?
Notwithstanding that I am a contractor (freelance journalist) 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 ?
My research online suggests that banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have built up.
The content set out above covers to properties in England and Wales.
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