Nedbank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Nedbank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Nedbank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with an IFA regarding my remortgage because I have just won a fixed term contract of four years (on a grad scheme). My contract started date this year. I am looking for a 5 year fixed rate mortgage. Property worth 165K, I want to borrow 132K. I purchased the property three years ago for £220,500 and I currently owe 115k to Nedbank
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and submitted. Received communication from the lender to say they can't move forward with process unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
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?
How can I make myself more attractive to a lender such as Nedbank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that banks and building societies in the main view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
The content set out above is in relation to properties in England and Wales.
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