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 looking for some mortgage advice. I am currently on a grad scheme, One year into a three year contract. the chances of me being moved onto an employed basis are slim. So I suppose my query is, will Paratus even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What criteria does a mortgage lender (for example Paratus) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
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 six figure salary. Is it going to be a case of just getting a non-contractor mortgage with Paratus in my husband’s name alone?
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. I am particularly interested in a mortgage deal with Paratus
As a contractor (HR consultant) is it necessary for me to produce at least six months of both business and personal bank statements as part of the vetting process for Paratus.I am not convinced that my broker is correct.
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Paratus