Virgin Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Virgin offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Virgin 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, 12 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my query is, will Virgin even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am a freelance contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company confirming I will be moved onto a permanent contract prior to the expiry of my set term? Would this help in applying for a mortgage with lend
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 95k contractor mortgage with a lender such as Virgin?
How can I make myself more attractive to a lender such as Virgin when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online suggests that mortgage lenders in the main view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Virgin to offer funds on the more realistic basis of my contracted rate.
The above information covers to properties in England and Wales.
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