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.
I have been dealing with an IFA concerning my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract begin date earlier this year. I am seeking a five year fixed rate mortgage. Property value £200,000, I want to borrow 132K. I bought the property 3 years ago for 138K and I currently owe 120K to Swansea Building Society
Does the CML Lender's Handbook stipulate the requirements for Swansea Building Society when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Swansea Building Society) adopt to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
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 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 Swansea Building Society
The content set out above is in relation to properties in England and Wales.
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