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.
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and sent. Received communication from the lender to say they can't move ahead with application unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
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.
Is it correct that The Mortgage Business quote higher interest rates when it comes to mortgages for contractors?
I am lead to believe that banks and building societies in the main consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media 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 The Mortgage Business.
Could a contractor mortgage with The Mortgage Business be a better option for me than a standard The Mortgage Business mortgage ?
The above information covers to properties in England and Wales.
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