Paratus Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Paratus offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Paratus 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 a broker regarding my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract started date earlier this year. I am looking for a 5 year fixed rate mortgage. Property value 165K, I want to borrow 132K. I purchased the property 3 years ago for £157,000 and I currently owe 115k to Paratus
I am a freelance contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company clarifying that I will be moved onto a permanent contract before the end of my set term? Would this assist in applying for a mortgage with lend
What criteria does a mortgage lender (for example Paratus) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and sent. Received communication from the lender to say they can't move ahead with application unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
Myself and my husband are currently about to apply for a mortgage with Paratus. Next month I commence working as a contractor. My husband is full time employed and so does have a healthy income. Is it going to be a case of just getting a non-contractor mortgage with Paratus in my husband’s name alone?
The above information is in relation to properties in England and Wales.
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