The Mortgage Business Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether The Mortgage Business offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about The Mortgage Business 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, One year into a three year contract. the chances of me being moved onto a permanent contract are slim. So I suppose my question is, will The Mortgage Business even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a broker regarding my remortgage because I am on a fixed term contract of two years (an engineering contractor). My contract started date earlier this year. I am seeking a 5 year fixed rate deal. Property worth £200,000, I want to borrow £150,000. I purchased the property 3 years ago for £157,000 and I currently owe 165k to The Mortgage Business
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and sent. Received a call from the lender to say they can't move forward with process unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any thoughts?
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. There doesn't seem to be many 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.
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do The Mortgage Business even grant mortgages to contactors ?
The content set out above covers to properties in England and Wales.
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