Paragon Residential Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Paragon Residential offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Paragon Residential and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is the situation with contractor mortgages and Paragon Residential? I am a contractor but my OH has a permanent job. Will Paragon Residential take my salary were we to make an application in both our names?
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 85k contractor mortgage with a lender such as Paragon Residential?
Myself and my husband are currently about to apply for a mortgage with Paragon Residential. Next month I commence working as a contractor. My husband is full time employed and so does have a six figure salary. Is it going to be a case of just getting a non-contractor mortgage with Paragon Residential in my husband’s name only?
I am lead to believe that banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have built up.
Could a contractor mortgage with Paragon Residential be a better option for me than a standard Paragon Residential mortgage ?
The above information covers to properties in England and Wales.
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