Swansea Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Swansea Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Swansea Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For two years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Swansea Building Society in his name using our joint deposit and for me to be added at a later date?
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 75k contractor mortgage with a lender such as Swansea Building Society?
Does the CML Lender's Handbook set out the requirements for Swansea Building Society when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Swansea 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.
I am lead to believe 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 a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have established.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Swansea Building Society