Tandem Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Tandem Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Tandem Bank 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 regarding my remortgage because I have just won a fixed term contract of 3 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 seeking a five year fixed rate mortgage. Property value £325k, I want to borrow 132K. I purchased the property four years ago for 138K and I currently owe 120K to Tandem Bank
I am a self employed contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company confirming I will be moved onto a permanent contract before the end of my set term? Would this assist in applying for a mortgage with lend
Does the CML Lender's Handbook stipulate the requirements for Tandem Bank when it comes to contractor mortgages or self-employed mortgages.
Me and and my wife are soon to submit for our first mortgage application with Tandem Bank. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a healthy income. Is it going to be a case of just getting a non-contractor mortgage with Tandem Bank in my wife’s name only?
My research online suggests that mortgage lenders in the main consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as Tandem Bank.
The content set out above covers to properties in England and Wales.
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