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.
I am seeking some mortgage advice. I am currently on a grad scheme, One year into a two contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My question is, will Paragon Residential even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What criteria does a mortgage lender (for example Paragon Residential) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
I am finding the process of looking for a contractor mortgage extremely frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of 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?
Were I to reveal to Paragon Residential that I’m contracting, are they likely to charge me a higher rate on my mortgage?
The above information is in relation to properties in England and Wales.
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