NRAM Ltd Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether NRAM Ltd offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about NRAM Ltd and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What criteria does a mortgage lender (for example NRAM Ltd) 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?
My wife and I are soon to submit for our first mortgage application with NRAM Ltd. 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 NRAM Ltd in my wife’s sole name?
I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
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?
I understand that for some mortgage companies ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with NRAM Ltd
The above information is in relation to properties in England and Wales.
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