Principality Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Principality Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Principality Building Society 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. However, I'm unlikely to be moved onto a permanent contract until around June time. My question is, will Principality Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a broker regarding my remortgage because I have just won a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am looking for a five year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I bought the property 3 years ago for 138K and I currently owe 115k to Principality Building Society
As contractor looking for a mortgage with Principality Building Society 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.
How can I make myself more attractive to a lender such as Principality Building Society when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
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. I am particularly interested in a mortgage deal with Principality Building Society
The content set out above covers to properties in England and Wales.
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