Sainsbury's Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Sainsbury's Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Sainsbury's Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 125k contractor mortgage with a lender such as Sainsbury's Bank?
Myself and my husband are currently about to apply for a mortgage with Sainsbury's Bank. Next month I commence working as a contractor. My husband is full time employed and so does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Sainsbury's Bank in my husband’s sole name?
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any 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 research online indicates that banks and building societies mostly view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Sainsbury's Bank.
I have no idea if Sainsbury's Bank grant contractor mortgages but if they do how does a Sainsbury's Bank contractor mortgage differ from a standard home loan?
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