Lloyds Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Lloyds offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Lloyds 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 an IFA concerning my remortgage because I am on 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 begin date this year. I am seeking a five year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I purchased the property three years ago for 138K and I currently owe 120K to Lloyds
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and submitted. Received a call from the lender to say they can't move ahead with process unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any thoughts?
Myself and my fiance are currently about to apply for our first mortgage with Lloyds. 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 incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
How can I make myself more attractive to a lender such as Lloyds when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Is it correct that Lloyds quote higher interest rates when it comes to mortgages for contractors?
The content set out above is in relation to properties in England and Wales.
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