National Westminster Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether National Westminster Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about National Westminster 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 a self employed contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company confirming I will be moved onto a permanent contract before the end of my set term? Would this assist in applying for a mortgage with lend
What criteria does a mortgage lender (for example National Westminster Bank) use to categorise someone 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 National Westminster Bank. Later this year I start working as a contractor. My wife is time employed as a lawyer and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with National Westminster Bank in my wife’s name alone?
I am well aware that the days of self-certification contractor mortgages are a thing of the past. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with National Westminster Bank
My research online suggests that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as National Westminster Bank to offer funds on the more realistic basis of my contracted rate.
The content set out above covers to properties in England and Wales.
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