Ulster Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Ulster Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Ulster Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
As contractor looking for a mortgage with Ulster Bank 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.
Going through the contractor mortgage process to move to a buy to let with a new lender. All documents done and sent. Received communication from the lender to say they can't move ahead with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any advice?
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
I am lead to believe that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
I have no idea whether Ulster Bank grant contractor mortgages but if they do how does a Ulster Bank contractor mortgage differ from a traditional mortgage?
The content set out above covers to properties in England and Wales.
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