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 seeking some mortgage advice. I am currently an engineering contractor, 18 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. My question is, will The Mortgage Works even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What criteria does a mortgage lender (for example The Mortgage Works) use to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
As contractor looking for a mortgage with The Mortgage Works 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.
Myself and my husband are currently about to apply for a mortgage with The Mortgage Works. Next month I commence working as a contractor. My husband is full time employed and so does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with The Mortgage Works in my husband’s sole name?
I'm a media contractor, according to my accounts, my average net profit and director's salary is £65,876. I am looking to purchase a house in loc. What are the chances of borrowing 180k via a contractor mortgage with Broadstone
The above information is in relation to properties in England and Wales.
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