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 an IFA concerning my remortgage because I am on a fixed term contract of four years (an engineering contractor). My contract begin date last year. I am looking for a five year fixed rate mortgage. Property value £325k, I want to borrow £150,000. I bought the property three years ago for 138K and I currently owe 115k to Vida Homeloans
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Vida Homeloans in his name using our joint deposit and for me to be added at a later date?
As contractor looking for a mortgage with Vida Homeloans 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 bank. All paperwork completed and sent. Received a call from the lender to say they can't move forward with process unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any advice?
I understand that for some lenders ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Vida Homeloans
The content set out above covers to properties in England and Wales.
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