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 have retained a mortgage adviser regarding my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract begin date this year. I am seeking a 5 year fixed rate deal. Property value £200,000, I want to borrow 132K. I purchased the property three years ago for £157,000 and I currently owe 115k to Vida Homeloans
I am Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage preferably from Vida Homeloans. Should I contact Vida Homeloans directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and Vida Homeloans.
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 Vida Homeloans?
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 mortgage lenders generally view 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 give an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as Vida Homeloans.
The above information is in relation to properties in England and Wales.
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