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.
What is the situation with contractor mortgages and The Mortgage Business? I am a contractor but my partner has a permanent job. Will The Mortgage Business take my salary should we make an application in both our names?
I am a finacial contractor looking to buy a home in London. My next step is to secure a mortgage ideally with The Mortgage Business. Am I best advised to contact The Mortgage Business directly or seek the assistance of a contractor specialist mortgage broker who focuses on dealing with contractors and The Mortgage Business.
What criteria does a mortgage lender (for example The Mortgage Business) use to categorise 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 The Mortgage Business 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 finding the process of trying to obtain a contractor mortgage very 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.
The above information covers to properties in England and Wales.
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