Zephyr Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Zephyr Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Zephyr Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around March time. So I suppose my question is, will Zephyr Mortgages even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a mortgage adviser concerning my remortgage because I have just won a fixed term contract of two years (on a grad scheme). My contract started date this year. I am seeking a 5 year fixed rate mortgage. Property worth £200,000, I want to borrow £150,000. I purchased the property three years ago for £220,500 and I currently owe 120K to Zephyr Mortgages
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new lender. All documents done and submitted. Received a call from the lender to say they can't move forward with process unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any advice?
Myself and my fiance are currently about to apply for our first mortgage with Zephyr Mortgages. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as a lawyer, and so does have a healthy salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I am lead to believe that banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Zephyr Mortgages to offer funds on the more realistic basis of my contracted rate.
The content set out above covers to properties in England and Wales.
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