Co operative Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Co operative Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Co operative 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 retained a broker regarding my remortgage because I have just won a fixed term contract of 3 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 5 year fixed rate deal. Property value £325k, I want to borrow £150,000. I bought the property four years ago for £220,500 and I currently owe 120K to Co operative Bank
I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
I am well aware that the days of self-certification contractor mortgages are long gone. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Co operative Bank
Even though I am a contractor (in the Oil & Gas industry) is it necessary for me to produce at least six months of both business and personal bank statements as part of the due diligence process for Co operative Bank.I am not convinced that my broker is correct.
If I reveal to Co operative Bank that I’m contracting, will they charge me a higher rate on my home loan?
The content set out above covers to properties in England and Wales.
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