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.
I have retained an IFA regarding my remortgage because I am on a fixed term contract of 3 years (an engineering contractor). My contract begin date this year. I am looking for a five year fixed rate mortgage. Property value 165K, I want to borrow 132K. I bought the property three years ago for £220,500 and I currently owe 115k to MPowered Mortgages
What criteria does a mortgage lender (for example MPowered Mortgages) use to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and submitted. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any thoughts?
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
Could a contractor mortgage with MPowered Mortgages be a better option for me than a traditional MPowered Mortgages mortgage ?
The content set out above covers to properties in England and Wales.
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