MPowered Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether MPowered Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about MPowered Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is the situation with contractor mortgages and MPowered Mortgages? I am a contractor but my OH has a permanent job. Will MPowered Mortgages take my salary should we make an application in both our names?
What criteria does a mortgage lender (for example MPowered Mortgages) use to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
Me and and my wife are soon to submit for our first mortgage application with MPowered Mortgages. Later this year I start working as a contractor. My wife is time employed as a lawyer and does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with MPowered Mortgages in my wife’s name only?
How can I make myself more attractive to a lender such as MPowered Mortgages when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Even though I am a contractor (IT consultant) do I really need to supply at least six months of both business and personal bank statements as part of the due diligence process for MPowered Mortgages.I am not convinced that my broker is correct.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from MPowered Mortgages