Whistletree Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Whistletree offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Whistletree 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. the chances of me being moved onto an employed basis are slim. My question is, will Whistletree even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained an IFA concerning my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am seeking a three year fixed rate deal. Property worth £325k, I want to borrow £150,000. I purchased the property three years ago for £157,000 and I currently owe 165k to Whistletree
As contractor looking for a mortgage with Whistletree 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 thoughts?
My research online indicates that mortgage lenders in the main consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have built up.
The content set out above covers to properties in England and Wales.
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