Yorkshire Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Yorkshire Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Yorkshire Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date earlier this year. I am looking for a five year fixed rate deal. Property worth 165K, I want to borrow 132K. I purchased the property four years ago for £157,000 and I currently owe 120K to Yorkshire Bank
Myself and my husband are currently about to apply for a mortgage with Yorkshire Bank. Next month I commence working as a contractor. My husband is full time employed and so does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Yorkshire Bank in my husband’s sole name?
I am finding the process of looking for a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
As a contractor (freelance journalist) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Yorkshire Bank even grant mortgages to contactors ?
I am lead to believe that banks and building societies mostly 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 paint an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Yorkshire Bank to offer funds on the more realistic basis of my contracted rate.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Yorkshire Bank