Vida Homeloans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Vida Homeloans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Vida Homeloans 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, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Vida Homeloans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new bank. All documents done and submitted. Received a call from the lender to say they can't move ahead with process unless my current manager writes me a letter saying my contract will definitely be prolonged and when new end date will be. Any thoughts?
Myself and my fiance are currently about to apply for our first mortgage with Vida Homeloans. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as a lawyer, and so does have a good salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
Is it true that Vida Homeloans quote higher interest rates in respect of mortgages for contractors?
My research online indicates 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 a finacial contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have built up.
The content set out above is in relation to properties in England and Wales.
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