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 seeking some mortgage advice. I am currently a media contractor, 18 months into a three year contract. the chances of me being moved onto an employed basis are slim. So I suppose my question is, will National Westminster Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What is current approach to contractor mortgages and National Westminster Bank? I am a contractor but my OH has a permanent job. Will National Westminster Bank take my salary should we make a joint application?
Do any sections of the CML Lender's Handbook set out the requirements for National Westminster Bank when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example National Westminster Bank) adopt to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
As contractor looking for a mortgage with National Westminster Bank 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.
The above information is in relation to properties in England and Wales.
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