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 am seeking some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around March time. My query is, will Paratus even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
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 95k contractor mortgage with a lender such as Paratus?
Myself and my fiance are currently about to apply for our first mortgage with Paratus. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a healthy incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
My research online suggests that mortgage lenders mostly consider 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 contractor-focused mortgage broker remove the hassle by maximising use of the expertise and contacts they have established.
I don't know whether Paratus are in the business of issuing contractor mortgages but in the event that they do how does a Paratus contractor mortgage differ from a traditional mortgage?
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Paratus