Principality Building Society Contractor Mortgages - Help and FAQs

What criteria does a mortgage lender (for example Principality Building Society) use 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?

Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and submitted. Received a call from the lender to say they can't move forward with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any advice?

I am well aware that the days of self-certification contractor mortgages are long gone. 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 Principality Building Society

Is it correct that Principality Building Society quote higher interest rates when it comes to mortgages for contractors?

I am lead to believe that banks and building societies in the main consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Principality Building Society.