The Mortgage Lender Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether The Mortgage Lender offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about The Mortgage Lender 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 an engineering contractor, One year into a three year contract. the chances of me being moved onto a permanent contract are slim. My question is, will The Mortgage Lender even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am an IT contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally from The Mortgage Lender. Would it be wise to contact The Mortgage Lender directly or seek the services of a contractor specialist mortgage broker who focuses on dealing with contractors and The Mortgage Lender.
As contractor looking for a mortgage with The Mortgage Lender 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 understand that for some mortgage companies ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with The Mortgage Lender
Is it correct that The Mortgage Lender quote higher interest rates when it comes to mortgages for contractors?
The content set out above is in relation to properties in England and Wales.
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