The Mortgage Works Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether The Mortgage Works offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about The Mortgage Works and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My query is, will The Mortgage Works even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with an IFA regarding my remortgage because I am on a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am looking for a three year fixed rate deal. Property worth £200,000, I want to borrow 132K. I purchased the property three years ago for 138K and I currently owe 115k to The Mortgage Works
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 125k contractor mortgage with a lender such as The Mortgage Works?
Me and and my wife are soon to submit for our first mortgage application with The Mortgage Works. Later this year I start working as a contractor. My wife is time employed as a lawyer and does have a meaningful income. Is it going to be a case of just getting a non-contractor mortgage with The Mortgage Works in my wife’s sole name?
As a contractor (IT consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the vetting process for The Mortgage Works.I am not convinced that my broker is correct.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from The Mortgage Works