Topaz Finance Contractor Mortgages - Help and FAQs

I have been dealing with an IFA concerning my remortgage because I have just won a fixed term contract of two years (a finacial contractor). My contract begin date earlier this year. I am seeking a three year fixed rate deal. Property value £200,000, I want to borrow 132K. I bought the property three years ago for 138K and I currently owe 165k to Topaz Finance

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 75k contractor mortgage with a lender such as Topaz Finance?

Myself and my husband are currently about to apply for a mortgage with Topaz Finance. 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 Topaz Finance in my husband’s sole name?

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.

I am lead to believe that banks and building societies in the main consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Topaz Finance.