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 have been dealing with a mortgage adviser concerning my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date earlier this year. I am looking for a three year fixed rate deal. Property worth 165K, I want to borrow 132K. I purchased the property 3 years ago for £157,000 and I currently owe 120K to Principality Building Society

I am Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage ideally with Principality Building Society. Am I best advised to contact Principality Building Society directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and Principality Building Society.

I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.

My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?

My research online suggests that mortgage lenders in the main view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Principality Building Society.

The above information is in relation to properties in England and Wales.

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