Platform Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Platform offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Platform and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have retained a broker regarding my remortgage because I have just won a fixed term contract of four years (on a grad scheme). My contract started date this year. I am seeking a three year fixed rate mortgage. Property worth £325k, I want to borrow 132K. I purchased the property three years ago for 138K and I currently owe 120K to Platform
As contractor looking for a mortgage with Platform will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
I understand that for some banks ‘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. In particular I have my eye on a mortgage deal with Platform
As a contractor (in the Oil & Gas industry) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Platform even grant mortgages to contactors ?
Is it true that as contractor I would need a huge deposit up to as much as 50 per cent to qualify for a mortgage with Platform.
The above information is in relation to properties in England and Wales.
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