Saffron Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Saffron Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Saffron 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 seeking some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. the chances of me being moved onto a permanent contract are slim. My question is, will Saffron Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
Does the CML Lender's Handbook stipulate the requirements for Saffron Building Society when it comes to contractor mortgages or self-employed mortgages.
My wife and I are soon to submit for our first mortgage application with Saffron Building Society. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Saffron Building Society in my wife’s sole name?
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Saffron Building Society to offer funds on the more realistic basis of my contracted rate.
I have no idea if Saffron Building Society are in the business of issuing contractor mortgages but in the event that they do how does a Saffron Building Society contractor mortgage differ from a standard mortgage?
The above information is in relation to properties in England and Wales.
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