Monmouthshire Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Monmouthshire Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Monmouthshire Building Society 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 an IT contractor, One year into a 2 contract. the chances of me being moved onto an employed basis are slim. So I suppose my query is, will Monmouthshire Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a mortgage adviser regarding my remortgage because I am on a fixed term contract of 3 years (an engineering contractor). My contract started date last year. I am seeking a 5 year fixed rate deal. Property value £325k, I want to borrow £150,000. I purchased the property four years ago for £157,000 and I currently owe 115k to Monmouthshire Building Society
As contractor looking for a mortgage with Monmouthshire Building Society 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.
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and sent. Received communication from the lender to say they can't move ahead with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any thoughts?
I understand that for some mortgage companies ‘contractors’ can be a red flag to their lending decision. 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 Monmouthshire Building Society
The above information covers to properties in England and Wales.
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